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Jan 13 - 05:55 PM

AUD/USD - Drop Slows Ahead Of Strong Support, Upside Limited

By Krishna Kumar  —  Jan 13 - 04:49 PM

• AUD/USD opens 0.35% higher after steadying Mon on perception drop over done

• Strong support at 0.6100, over-sold indicators slow downtrend

• Better-than-expected China trade data, measures to defend CNY buoy AUD

• Elevated U.S. yields, robust U.S. economy limit recovery potential

• U.S. 10-year yield hits 14-month high on doubts over further Fed rate cuts

• U.S. inflation, Australia employment, China data, Fed comments key this week

• Clear break of 0.6099, 76.4% of 0.5510-0.8007 post-COVID rally opens 0.5980

• Resistance 0.6170-80, 0.6200, 0.6220-25; Monday range 0.6131-0.6168
AUD:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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