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Nov 22 - 07:55 AM

AUD/USD - Trying To Recover But Facing Headwinds

By Peter Stoneham  —  Nov 22 - 06:00 AM
  • Technically, the AUD remains pressured: Mon cloud break bearish

  • Cloud top, 0.6653, now stalling a modest rebound from 0.6585 Mon low

  • The 100 day moving average at 0.6691 also a problem for AUD bulls

  • A 38.2% Fibo taken off the recent 0.6170-0.6797 climb is at 0.6557

  • Converged 21-30DMAs at 0.6540 further support tight below

  • Market likely tight ahead of Wed's FOMC minutes

  • China's stop-start COVID curb-easing will frustrate AUD bulls

  • For now the Aussie is finding support above 0.6600: 0.6602 the low

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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