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Nov 08 - 05:55 PM

AUD/USD - Opens Higher As Risk Assets Rise And US Yields Ease

By John Noonan  —  Nov 08 - 05:25 PM
  • AUD/USD opens +0.59% after USD broadly weakened ahead of US mid-term election results

  • Risk assets firmed while US yields eased on expectations of US political gridlock nL1N3242HKnL1N3241IL

  • AUD/USD traded as high as 0.6551 before closing at 0.6508

  • The 55-day MA was at 0.6551 Tuesday and was validated by price action

  • The 55-day MA descends to 0.6544 today

  • Support is at the 10-day MA at 0.6425 and break would ease upward pressure

  • The results of the US mid-term elections filter through later today

  • China CPI and PPI are out today and may impact price action in CNY

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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