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Nov 11 - 06:55 AM

AUD/USD - Set For Its Best Week Since August 2020

By Peter Stoneham  —  Nov 11 - 05:00 AM
  • AUD/USD climbs to 0.6678 and set to record its best week since Aug. 2020

  • Fallout from the U.S. CPI data adding to the AUD recovery nL1N3261EP

  • The U.S. data triggered a down shift in Fed Fund futures peak rate

  • Into Friday and U.S. Treasury yields are sharply lower

  • Resulting in a boost for risk sentiment, commodities and the Aussie

  • AUD/USD initial resistance at 0.6704, 100-day moving average

  • A 50% Fibo retrace off the Aug. 11-Oct. 13 drop cleared at 0.6753

  • The 61.8% retrace of that move is at 0.6767: cloud top behind at 0.6748

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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