AUD/USD sell off exhausted for now.
AUDUSD finished higher overnight at .6674 (0.33%), supported by a rebound in commodity prices and risk sentiment. And after running into bids placed ahead of the 200-day moving average at .6616.
The rejection from the .6800/25c resistance area has likely run its course for now. Provided the AUD/USD holds above the 200-day ma (on a sustained basis), there is scope for the rebound to extend back towards .6800c in the sessions ahead.
The rejection from the .6800/25c resistance area has likely run its course for now. Provided the AUD/USD holds above the 200-day ma (on a sustained basis), there is scope for the rebound to extend back towards .6800c in the sessions ahead.
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