By Christopher Romano — Jan 23 - 07:30 AM
Softer US rates US2YT=RR weighed down US$ in overnight trading
AUD/USD fell initially but the rallied 0.6960-0.70145, NY opened near 0.6990
Copper HGv1 gains, USD/CNH drop below 6.7640 helped AUD/USD rally
US$ buying ahead of and into NY's open helped erode some overnight gains
Pair trades up +0.22% which keep bullish technical signals intact
Daily, monthly RSIs rising, paid above the 10-DMA, 50% Fib 0.7661-0.6170
Lunar New Year holidays, Fed quiet period will keep focus on econ data
US Jan. S&P PMIs, Dec. PCE price index, U. Michigan, are risks this week
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Source:
Refinitiv IFR Research/Market Commentary