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Nov 09 - 04:55 PM

AUD/USD - Key Support Corral Bears For Now

By Christopher Romano  —  Nov 09 - 01:43 PM
  • AUD/USD rallies to 0.7432 in Europe am, slide ensues, NY opens near 0.7410

  • Slide extends as equities ESv1, copper HGv1, AUD/JPY, bond yields sink

  • US$ buying takes hold as soured risk has investors look for safer plays

  • AUD/USD drop nears 0.7360, stops short of the 55-DMA, Nov 5 daily low

  • Very little bounce seen, pair sits near 0.7370 late in the session

  • Techs are bearish, RSIs falling, 10-DMA about to cross below 21-DMA

  • China, German, US October inflation data are key risks for Thursday

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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