By Krishna K — Nov 25 - 04:50 PM
AUD/USD opens unchanged after trading in a 0.6487-0.6549 range on Monday
Failure to sustain rally despite positive catalysts is bearish
Sharply lower U.S. yields, buoyant stocks, iron ore recovery ignored
Inability to overcome resistance despite a broadly lower USD weighs
Extended consolidation in a 0.6450-0.06550 range likely
RBA's hawkish stance supports; Australia's October CPI Wed awaited
Robust U.S. economy, scaling back of Fed rate cut expectations cap upside
Support 0.6475-80, 0.6450, resistance 0.6525-30, 0.6545-50
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Source:
Refinitiv IFR Research/Market Commentary