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Oct 31 - 03:55 PM

AUD/USD - Shorts Probe Key Support Area But Momentum Stalls

By Christopher Romano  —  Oct 31 - 01:45 PM
  • AUD/USD fell in overnight trading, NY opened near 0.6395, slide extended

  • Investors shunned riskier assets on inflation, global growth concerns

  • US$ buoyed by rising rates EDH3 and its safe-haven status

  • Drops in equities ESv1, commodities HGv1 reinforced risk-off theme

  • USD/CNH rallied above 7.3365 & EM ccys sank which added weight on AUD/USD

  • Pair broke the Oct. 26 low but slide stalled neared the 10- & 21-DMAs

  • AUD/USD hit 0.6368, some late day US$ sales lifted AUD/USD near 0.6395 late

  • Techs are mixed; daily RSI falling, monthly bull hammer candle formed

  • RBA risk looms, estimates call for a 25 bps hike nL4N31Q0QT

  • US Sept. JOLTs & Oct. ISM mfg PMI are data risks in NY on Tuesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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