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Nov 15 - 11:55 PM

AUD/USD - Marches Higher With Stocks And Risk Appetite

By Andrew M Spencer  —  Nov 15 - 10:30 PM
  • +0.35%, leading USD lower, at the top of a 0.7266-0.7298 range - busy early

  • Risk 'on' - E-mini S&P futures +0.75%, Nikkei +1.65% & AsiaxJP stocks +1.2%

  • Strong China factory output nL1N2HZ0C2, fuels gains in metals nL4N2I20LM

  • Australia hopes RCEP trade deal will improve China relationship nL8N2I1003

  • Charts; momentum studies conflict, 5, 10 & 21 DMAs climb - positive setup

  • The next significant resistance is the 0.7340 November high

  • Close below 0.7206, 38.2% of the November bounce would end topside bias

  • Asian 0.7266 low and Wednesday's 0.7318 high initial support-resistance

For more click on FXBUZ


aud 2 nov 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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