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Jan 17 - 05:55 PM

AUD/USD - Consolidates, Builds Base For Further Advance

By Krishna K  —  Jan 17 - 05:10 PM
  • AUD/USD remains in a consolidation phase after rallying 2% in January

  • Trades in a well supported range as base for a further rally builds

  • Supported by China economic recovery optimism, higher commodity prices

  • Robust Australian economy, rising prices for Australia's exports support

  • All eyes on AUD/JPY on expectations of crucial BOJ policy decision Wed

  • Break of 0.7020 opens ratchet to 0.7125-35; support 0.6930-40, 0.6910-15

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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