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AUDUSD Holding Above 0.6310 At Start Of Week

AUD

Aussie fell below 63c briefly a couple of times on Friday and is currently around 0.6316. Later in NY trading it found support around 0.6310. It was an underperformer in the G10 along with other commodity currencies. The USD index finished 0.1% lower.

  • AUDUSD trend conditions remain bearish with the bear trigger at 0.6286, October 3/13 low. Initial resistance is at 0.6393, October 18 high. A break of 0.6522, key resistance, is needed to highlight a reversal.
  • Aussie rose 0.2% against the kiwi and is currently around 1.0842. AUDJPY is down 0.2% to 94.65. AUDEUR is 0.3% lower at 0.5961 and AUDGBP -0.4% to 0.5193.
  • Equity markets sold off with the S&P down 1.3% and the Euro stoxx -1.6%. Oil prices were close to flat with WTI closing at $88.30/bbl. LME metal prices fell 0.3% on Friday to be 0.2% higher on the week. Iron ore is around $113.50/t.
  • There are no data in Australia or RBA events today. Governor Bullock speaks on Tuesday.

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