Skip to main content

AUD/USD sets technically negative close below 0.6400

Yesterday, as noted here in an update, the AUD/USD had managed to hold support in place at 0.6391. The low seen then was set at 0.6392. The support at 0.6391 was in the form of its 50 day moving average. The rebound that followed was modest though. The AUD/USD rose to as high as 0.6428 into the 4pm London Fix. However, the noted poor US action and rising US yields, which received a further jolt from comments by Jerome Powell later, sent the Aussie lower again. This time it crumbled below that support and fell towards 0.6350 into the US close. The AUD/USD closed in the US last night at 0.6367 and hence not technically positive below that 50 day moving average. The 50 day moving average has dropped slightly, to 0.6388 this morning and has not been put to the test so far today. The range seen has been covered by 0.6352 to 0.6372. It is just now trading at 0.6360
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!