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Jan 15 - 06:55 AM

AUD/USD - Path Of Least Resistance Remains On The Downside

By Justin Mcqueen  —  Jan 15 - 05:25 AM
  • AUD shorts remain in control, near-term support eyed

  • US NFP and CPI reaction lows at 0.6641-47 marks support

  • Break below would likely open door towards 0.6600

  • Large net USD shorts 0#NETUSDFX= raises the risk of a short squeeze

  • Fed's Bostic (dovish) "need to stay on hold until at least summer"

  • Eyes on Fed's Waller (lead inidicator for Fed policy) due to speak Jan 16

  • Pushback from Waller would likely spark upside for the dollar

  • Markets still see chance of a March cut at over 80% FEDWATCH

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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