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Support At $0.63, Local Docket Empty Today

AUD

AUD/USD prints at $0.6325/30, the pair fell ~0.1% yesterday.

  • Support at the $0.63 handle saw AUD firm through the European and NY sessions, rising ~1% from trough to peak, briefly extending gains as Fed Chair Powell noted the Fed was proceeding carefully.
  • AUD/USD couldn't sustain the bid and ticked lower into the close alongside falling US Equities.
  • Technically the outlook remains bearish, support comes in at $0.6286 Low Oct 3 / 13 and the bear trigger. Upside resistance is seen at $0.6393 High Oct 18.
  • Cross asset wise 2-Year US Tsy Yields fell 6bps and BBDXY was down ~0.1%. S&P500 fell ~0.9%. SGX Iron Ore futures were little changed and remain well with recent ranges. Copper was a touch firmer, Newcastle Coal extended recent falls and is down ~5% this week.
  • The local data docket is empty today.
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