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Thomson Reuters
Jan 25 - 12:12 AM
AUD/USD - Bounces As Asian Stocks Rally
First appeared on eFXplus on Jan 24 - 10:25 PM
  • AUD/USD up 0.2% in Asia as stocks across the region move higher
  • Initial move down to 0.7076 tested a cluster of late Dec daily highs
  • The bounce high so far has been 0.7106 as MSCI AXJ rises 1.0%
  • Resistance at former 0.7115/25 support and 21 DMA at 0.7126
  • Momentum studies conflict, but s/t MAs head lower in bearish signal
  • But reaction to NAB raising mortgage rates was overdone, consolation likely

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