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Trading news
19 Jun 2020
AUD/USD: 200-DMA at 0.6666 exposed on a break below 0.6850 – OCBC
Terence Wu, an FX strategist at OCBC Bank, notes that the AUD/USD pair trades above the 0.6850 level, specifically at 0.6895 as of writing, which needs to be broken to expose the 200-day ma at 0.6666.
Key quotes
“Apart from risk cues, the AUD/USD was also pressured by the softer than expected employment data. However, the pair remains stubbornly above the 0.6850 mark.”
“The 0.6850 level will need to be breached before the pair can contemplate firmer supports at 0.6780/00 and multi-session target at the 200-day ma (0.6666).”
“Topside resistance shifts lower to 0.6900.”