Aussie Down on Risk Aversion, Poor Service Data
| Action Insight Daily Report 10-10-22 |
Aussie Down on Risk Aversion, Poor Service Data |
Asian markets trade broadly lower today, extending the risk-selloff late last week. Dollar, Yen and Swiss Franc are trading higher on risk-aversion, as usual. Aussie is currently worst performer, while Kiwi and Sterling are trailing. Euro is mixed for now, but looks vulnerable too. Technically, one focus is whether EUR/USD would finally make up its mind and break through 0.9734 minor support firmly, and head back to 0.9534 low. To confirm Dollar's strength against Europeans, GBP/USD will have to break through 1.1023 minor support while USD/CHF should break through 0.9964 resistance. Or, to confirm Euro's weakness, EUR/JPY has to break through 140.77 minor support while EUR/CHF should break through 0.9641 minor support. Let's see. In Asia, Hong Kong HSI is down -3.03%. China Shanghai SSE is down -1.13%. Singapore Strait Times is down -1.12%. Japan is on holiday. |
AUD/USD Daily Report Daily Pivots: (S1) 0.6352; (P) 0.6447; (R1) 0.6503; More... Intraday bias in AUDUSD stays on the downside this week. Current down trend should target 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155 next. On the upside, break of 0.6539 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 22:30 | AUD | AiG Performance of Services Index Sep | 48.0 | 53.3 | | 08:30 | EUR | Eurozone Sentix Investor Confidence Oct | -30.8 | -31.8 |
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