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Nov 08 - 04:55 PM

AUD/USD - Key Impediments Still Threatened Despite Bullish Influences

By Christopher Romano  —  Nov 08 - 01:35 PM
  • NY opened near 0.6435 after 0.64495 traded overnight, slide extended

  • Early US yield lift drove US$ buys; UDS/CNH rallied to 7.2885 on D3

  • Slides in equities ESv1, copper HGv1 likely added weight on AUD/USD

  • AUD/USD hit 0.6407 & sat nearby late in the day, traded down -0.38%

  • Pair held near lows despite US yield US10YT=RRUS2YT=RR softening

  • AUD/USD traded just above the 10-, 55-DMAs & the daily cloud base

  • Daily RSI & monthly inverted hammer candle are concerns for AUD/USD longs

  • China Oct. PPI & CPI, US weekly claims data are key risks for Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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