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