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Sep 11 - 07:55 PM

AUD/USD - Recovers As Risk Appetite Improves

By Krishna K  —  Sep 11 - 07:10 PM
  • AUD/USD trades with a firm tone in Asia after closing 0.35% higher on Wed

  • Boosted by a recovery in risk appetite; Wall Street and commodities rally

  • Dip buyers likely to return as AUD found support near 0.6619, 200-day MA

  • Consolidation likely ahead of China activity data Sat, Fed rate decision Wed

  • Fed expected to deliver 25 bps rate cut next week as inflation stays sticky

  • AUD upside limited as concerns over China's economy persist

  • Resistance 0.6690-0.6700, 0.6720-25, 0.6745-50; support 0.6645-50, 0.6620-25

  • Wednesday global range 0.6622-0.6676

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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