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Dec 05 - 07:55 PM

AUD/USD - Opens Sharply Lower As Hawkish Fed Fears Support USD

By John Noonan  —  Dec 05 - 05:55 PM
  • AUD/USD fell 1.4% and completed a bearish outside day as USD broadly gained

  • Another batch of stronger than expected US data fanned hawkish Fed expectations nL1N32V1DE

  • Risk currencies particularly hard hit, as commodities and equities tumbles nL1N32V25VnL1N32U0FT

  • AUD/USD opens just above 21-day MA at 0.6689 - which has held since Nov 4

  • A break below the 21-day MA confirms short-term trend higher has ended

  • Resistance is at double-top around 0.6850 and 200-day MA at 0.6918

  • RBA decision today and they are expected to hike 25 BPs to 3.10%

  • Key will be if there any changes to forward guidance in the statement nL4N32V03B

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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