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Nov 25 - 05:55 PM

AUD/USD - Sharp Rejection At Resistance A Worrying Sign

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

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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