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Dec 30 - 04:55 PM

AUD/USD - Bulls Shake-Off Soured Risk, Support Near 0.6200 Still Safe

By Christopher Romano  —  Dec 30 - 01:15 PM

• NY opened near 0.6240 after 0.6246 traded overnight, pair fell further in NY

• Risk-off sentiment rallied safe-haven assets; US yields fell

• Stock, commodity drops & USD/CNH rally reinforced risk-off

• AUD/JPY fell towards 97.30 which also helped drive AUD/USD downward

• AUD/USD hit 0.6204, bounced above 0.6225, traded up +0.20% late in the day

• Falling monthly RSI, hold below 10-DMA give techs a bearish lean

• Ongoing consolidation phase above 0.6200 support reinforces bearish techs

• China Dec. NBS manufacturing, non-manufacturing PMIs are risks in Asia
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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