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Nov 07 - 11:55 PM

AUD/USD - Slips With Commodities, After Thursday's Jump

By Andrew M Spencer  —  Nov 07 - 10:15 PM
  • Trades 0.35% lower at the base of a busy 0.6656-0.6681 range on FX matching

  • A modest correction of Thursday's 1.7% bounce- steady e-minis and UST yields

  • Oil and metals are a touch softer, Nikkei +0.35%, AsiaxJP +0.65%

  • USD and risk appetite to lead AUD offshore - light EZ and US data schedule

  • Charts; 5, 10 & 21-day moving averages conflict, 21-day Bolli bands contract

  • Daily momentum studies edge higher - signals show a modest topside bias

  • The close above 0.6640 21 DMA targets a test of the 0.6728 0.5% Sep/Nov fall

  • Thursday's 0.6565 base and this week's 0.6513 low are initial supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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