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Nov 22 - 11:55 AM

AUD/USD - Bulls Take It On Chin After Biden Re-Nominates Powell For Fed Chair

By Paul Spirgel  —  Nov 22 - 09:49 AM
  • AUD/USD backs off early NorAm highs after Biden re-nominates Powell

  • Aussie slips from 0.7273 NorAm high to 0.7239 after Fed chair news

  • Diverging AU-US rate diffs boost USD, RBA seen on hold thru '24 nS9N2QH014

  • AUD/USD supt 0.7228 Nov 19-22 lows, 0.7226 lwr 30-d Bolli, 200-WMA at 0.7196

  • Resistance at Nov 22 high 0.7273, 10-DMA 0.7300, daily cloud top 0.7319

  • Doji formed Thursday, turns out to be only a pause in the bear trend

  • RBA shift from entrenched 2024 liftoff needed for AUD bulls to keep pace w/rising USD

For more click on FXBUZ


AUD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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