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Jan 16 - 05:55 PM

AUD/USD - Eases On Inability To Sustain Rally Above 0.7000

By Krishna K  —  Jan 16 - 04:45 PM
  • AUD/USD trades with a slightly offered bias in Asia after falling 0.35% Mon

  • Profit taking sets in on failure to break 50% of 0.7282-0.6170 fall @ 0.7020

  • Undermined by a slightly firmer USD which pulls backs from a near 7-mth low

  • Yuan gains falter above 6.7000, commodities ease slightly, weigh on AUD

  • China reopening optimism, expectations of less hawkish Fed limit downside

  • China GDP and monthly activity data Tuesday key for s/term direction

  • Resistance 0.6980-85, 0.7000, 0.7020, support 0.6940-45, 0.6920-25

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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