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Jan 15 - 05:55 PM

AUD/USD - Consolidation A Prelude For Further Gains

By Krishna K  —  Jan 15 - 04:00 PM
  • AUD/USD rally pauses after climbing to a 5-month high of 0.6994 Friday

  • Cooling U.S. inflation expectations, bets of less hawkish Fed support

  • Consolidation below 0.7000 bodes well for continuation of uptrend

  • Buoyant risk sentiment, rising commodity prices point to further gains

  • Copper at 7-mth high, Dalian iron ore hits 17-mth high on China optimism

  • Resistance 0.7000-10, 0.7040-50; support 0.6945-50, 0.6915-20

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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