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Dec 14 - 01:55 AM

AUD/USD - Pares O/N Gains But Pivotal Resistance In Cross-Hairs

By Krishna K  —  Dec 13 - 11:40 PM
  • AUD/USD down 0.35% in Asia on profit-taking after blistering 2.2% Tue rally

  • Weighed down by caution ahead of Fed rate decision Wednesday nL1N33315J

  • Concerns over China's rapid 'zero-COVID' exit caps gains nL8N33408U

  • Downside limited on Fed slowdown bets and elevated commodity prices

  • Australia employment data and China monthly activity data awaited Thursday

  • Strong resistance at 0.6903-0.6915, 200-DMA and 50% of April-October drop

  • Daily close above 0.6915 accelerates rally; support 0.6800-10, 0.6740-50

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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