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Nov 18 - 02:36 AM
AUD/USD - Captive In Bearish Channel Despite China Repo Cut
First appeared on eFXplus on Nov 17 - 10:05 PM
  • AUD/USD hangs slightly lower at 0.6817, still trapped in bearish rut

  • Bearish bias holds as top of Bollinger downtrend channel caps 0.6822

  • But daily Ichimoku Cloud support at 0.6783 likely to prop up intraday

  • Trendline resistance above at 0.6848 is threshold for short-covering

  • Inability to close above that douses any chance of rally ahead

  • China's unexpected reverse repo rate cut had mild effect nL1N27Y018











Source:
Refinitiv IFR Research/Market Commentary

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