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AUDUSD Recovers From Dips Below 64c

AUD

AUDUSD broke though 64c during NY trading to reach a low of 0.6387 but it bounced from this level to 0.6420. It is currently around 0.6416. The USD index closed off its highs to be flat on the day.

  • Trend conditions for AUDUSD remain bearish. It is trading below 0.6458, the bear trigger, which strengthens the downtrend and opens 0.6285, 4 November 2022 low. Initial resistance is 0.6480, August 16 high.
  • AUDJPY is up 0.7% to 93.79 as the yen significantly underperformed the G10. Aussie is flat against the other major crosses with AUDNZD around 1.0824, AUDEUR 0.5888 and AUDGBP 0.5029.
  • Equity markets were mixed with the S&P up 0.7% but Dow Jones down 0.1%, and Euro stoxx +0.3% but FTSE -0.1%. VIX is lower at 17.1%. Oil prices were down slightly with Brent closing at $84.52/bbl. Copper is up 0.4% and iron ore just under $108/t.
  • There are no events/data in Australia today.

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