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Feb 06 - 01:55 AM

AUD/USD - Pares Losses As Australia-China Talk Trade

By Krishna K  —  Feb 06 - 12:20 AM
  • AUD/USD rallies 0.35% on signs of thaw in Australia-China trade relations

  • Australia trade minister to travel to Beijing to meet counterpart

  • News helps AUD recovery despite broadly stronger USD, weak risk appetitive

  • Traders wary after 3.8% drop from Thurs 0.7158 high, prospect of hawkish RBA

  • RBA rate decision Tuesday, central bank to hike rates 25bps, guidance key

  • Rallies to be limited as fears of hawkish Fed return on "monster" U.S. jobs

  • Asia range 0.6947-0.6885; support 0.6915-20, 0.6893, 50% of Dec-Feb rally

  • Resistance 0.6950-55, 0.6975-80

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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