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Nov 13 - 05:55 PM

AUD/USD - Key Support Yields, Downtrend Risks Acceleration

By Krishna K  —  Nov 13 - 04:55 PM
  • AUD/USD down 0.8% heading into New York close as key support gives way

  • Pair likely to close below 76.4% Fibo of Aug-Sep rally at 0.6489

  • Elevated US yields, broadly higher USD, China woes continue to weigh on AUD

  • Sliding commodities undermined AUD; copper hits 2-month low

  • Progress lowering US CPI stalling; rate cut pace uncertain in 2025

  • Fed officials wary of inflation risks as they weigh more rate cuts

  • Australia employment data Thu, forecast +25k jobs, unemployment rate 4.1%

  • RBA Governor Michele Bullock participates in panel discussion, 10 AM Sydney

  • Minor supports 0.6465-70, 0.6440, 0.6410-15; major support 0.63485-0.63625

  • Resistances 0.6515-20, 0.6545-50; Wed range 0.64805-0.6545

  • Fed Chair Powell participates in Dallas event Wed

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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