AUD/USD hovers around 0.6750s as Wall Street edges lower AUDUSD Majors Macroeconomics Technical Analysis
timent. Nevertheless, the choppiness of the last trading week of 2022 keeps traders at bay from opening fresh longs ahead of the month, quarter, and year-end flow, which usually benefits the US Dollar . At the time of writing, the AUD/USD is trading at 0.6785.
Even though sentiment improved throughout the Asian and European sessions, courtesy of China’s relaxing Covid-19 restrictions, of late shifted sour. Fears that the full reopening of China could unleash another raft of higher prices turned Wall Street into negative territory. Chinese authorities began to issue travel permits to Hong Kong residents and passports as it prepares to reopen borders on January 8.
As an alternate scenario, the AUD/USD first resistance would be 0.6800, followed by the 200-day EMA at 0.6822. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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