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Oct 23 - 07:55 PM

AUD/USD - Opens Higher After US Yields Tumble From Multi-Year Highs

By John Noonan  —  Oct 23 - 05:50 PM
  • AUD/USD opens +0.33% as USD broadly eased when US yields reversed lower nL1N3BT21G

  • The 10-year had an outside day reversal and so did the AUD/USD

  • AUD/USD fell below 0.6300 for 7th time in 15 days before US yields reverse

  • On each dip below 0.6300 dip buyers have come in ahead of 0.6285

  • A clear break below 0.6285 targets the 2022 trend low at 0.6170

  • Resistance is at 55-day MA at 0.6409 and break would suggest bottom in place

  • RBA Governor Bullock speaks today and may impact RBA expectations

  • Risk assets marginally higher, but investors remain cautious

  • Bias for AUD/USD has turned bullish while 0.6285 holds on dips

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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