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Nov 11 - 08:55 AM

AUD/USD - China COVID Reports, Upbeat Risk Keep Bulls In Charge

By Christopher Romano  —  Nov 11 - 07:15 AM
  • AUD/USD traded 0.6579-0.6679, NY opens near 0.6670, +0.75% on the session

  • Lift aided risk rally lead by China easing some COVID rules nL1N3270BC

  • Easing of COVID measures & possible reopening brightens growth prospects

  • Equities ESv1, commodities DCIOc2 gain, USD/CNH fell below 7.0600

  • AUD/USD broke the 50% Fib of the 0.7136-0.6170 fall, Sept. 22 daily high

  • Techs are bullish; RSIs rising, not overbought; monthly bull hammer in place

  • Daily cloud top, 61.8% Fib of 0.7136-0.6170, Sept 15 & 20 highs now targeted

  • For more click on FXBUZ




Source:
Refinitiv IFR Research/Market Commentary

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