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Nov 10 - 09:55 PM

AUD/USD - Lower As Asia Counter-Trades The U.S. Dollar Slump

By Andrew M Spencer  —  Nov 10 - 08:05 PM

  • -0.4% as Asia takes advantage of 2.9% bounce after USD slid post U.S. CPI

  • Despite CPI, Fed officials still expect lower hikes for longer nL1N3262QX

  • AUD move is in line with general counter trading the USD fall, USD/JPY +0.7%

  • Risk on in Asian stocks, ASX 200 +2.65%, Nikkei +02.65% and AsiaxJP +1.6%

  • Charts; bullish outside day to be validated by a close above 0.6631 NY high

  • 5, 10 & 21 day moving averages climb, 21 day Bollinger bands expand

  • Bullish trending setup targets a test of 0.6739, 38.2% 2022 fall

  • NY 0.6515-0.6631 range after initial CPI spike support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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