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Nov 12 - 11:55 PM

AUD/USD - Edges Lower In Subdued Start To A Busy Week

By John Noonan  —  Nov 12 - 10:20 PM
  • AUD/USD opened 0.6355 and traded in a 0.6352/67 range in quiet Asia

  • Flows were lighter than usual due to a Singapore holiday

  • Mood in Asia subdued, as E-mini futures fell 0.40% after solid gain Friday

  • Heading into the afternoon the AUD/USD was trading around 0.6355

  • AUD/USD bias bearish as 2.35% fall last week left it technically vulnerable

  • Resistance at 10-day MA @ 0.6372, 55-day MA @ 0.6394 and 21-day MA @ 0.6409

  • The 0.6271 Oct 26 & 2023 low is the target with bids tipped ahead of 0.6300

  • AUD/USD may consolidate ahead of key events this week nL1N3CB04C

  • Aus wage price data is out Wednesday and Aus employment is due Thursday

  • US CPI and China IP and retal sales out on Wednesday will also be key

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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