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Nov 18 - 05:55 PM

AUD/USD - Rallies As Support Holds And Commodities Bounce

By Krishna K  —  Nov 18 - 04:55 PM
  • AUD/USD poised to open 0.7% higher Tue after repeated tests of support holds

  • 0.6441, April 23 low, holds on 3 occasions as downward momentum stalls

  • Commodities recover from recent sharp drop as Trump trade pauses, buoy AUD

  • Gold +1.9%, NYK copper +1.4%, Dalian iron ore rises from near 2-month low

  • Trade flows in focus as Australia's Albanese meets China's Xi

  • AUD/JPY up 1% as BOJ's Ueda makes no mention of Dec rate hike, supports AUD

  • RBA Nov meeting minutes Tue and Governor Bullock speech Thu awaited

  • Support 0.6475-80,0.6440-50 break opens 0.6408; resistance 0.6515-20, 0.6550

  • Monday range 0.6448-0.6510

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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