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Feb 04 - 08:55 AM

AUD/USD - Stuck In The Middle As A New Catalyst Is Awaited

By Christopher Romano  —  Feb 04 - 07:24 AM

• AUD/USD hit 0.6230 in Asia, sellers emerged, 0.6171 hit in Europe's morning

• Pair bounced, sat near 0.6210 at NY's open, pair traded down -0.31%

• Gains in 10-yr UST yield rallied US$ which sank AUD/USD

• USD/CNH drop, commodity gains prevented a deeper AUD/USD fall

• AUD/USD traded below the 10- & 21-DMAs which is a concern for longs

• Long lower wicks on daily, monthly candles gives longs some comfort though

• AUD/USD trades near the mid point of its recent 0.6089-0.6330 range

• US December JOLTS & factory orders are data risks in NY

• Fed's Daly speaks on the economy in NY's afternoon, may impact risk
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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