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Sep 18 - 09:55 PM

AUD/USD - Consolidation Likely After 2Nd Failure Above 0.6800

By Krishna K  —  Sep 18 - 07:35 PM
  • AUD/USD subdued in Asia after closing 0.1% higher Wed in choppy trading

  • Fails to sustain sharp rally to 0.6820 after Fed's oversized 50 bps rate cut

  • U.S. yields rebound in "buy rumour, sell news" reaction to Fed, cap AUD rise

  • Rejection at Aug 0.6824 high results in drop to 0.6742 before stabilising

  • Concerns over China's economy, 4.3% iron ore fall temper bullish AUD mood

  • Iron ore posts steepest daily fall in nearly two years

  • Diverging RBA-Fed rate expectations limit downside; Aus jobs data Thu key

  • Support 0.6740, 0.6720-25, 0.6695-0.6700; resistance0.6795-0.6800, 0.6820-25

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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