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Dec 30 - 03:55 PM

AUD/USD - Recovery Stalled By Middle Of Oct-Dec Slide As Risk Rebound Fades

By Randolph Donney  —  Dec 30 - 01:46 PM
  • AUD/USD capped at 0.72765 by 50% Fibo of Oct-Dec drop at 0.72748

  • Weekly tenkan and the 55-day MA are also nearby at 0.72648/806

  • Early gains trimmed to about flat after strong US claims data

  • But Treasury yields shed early gains amid anxious year-end trading

  • Some loss of bullish momentum in stocks dims AUD's allure, aids USD

  • IMM specs still heavily net long AUD, so no short-squeeze support

  • Also have falling daily cloud cover at 0.7287-334 on Friday

  • Initial support near 0.7200 from Monday 0.7206 low, tenkan at 0.71795

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Refinitiv IFR Research/Market Commentary


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