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
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Source:
Refinitiv IFR Research/Market Commentary