By Krishna K — Aug 18 - 06:50 PM
AUD/USD poised for test of 0.6692 resistance after closing 0.92% higher Fri
0.6692, 76.4% of 0.6798-0.6348 July-Aug drop, may put up a fight on 1st try
Diverging RBA-Fed rate expectations likely to result in eventual break
Fed officials prepare markets for Sep rate cut with dovish weekend comments
Powell may signal that Fed easing is imminent at Aug 23 Jackson Hole speech
AUD also boosted by investors tip-toeing bank into carry trades
But concerns over China's floundering economy may slow AUD rally
Clear break of 0.6692 opens ratchet to 0.6730-40; support 0.6635-45
Friday global range 0.6608-0.6671; Monday Asia range 0.6666-0.6677
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary