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Dec 16 - 05:55 PM

AUD/USD - Recovery Attempts Falter As Negatives Build

By Krishna K  —  Dec 16 - 05:20 PM
  • AUD/USD opens unchanged after trading in a familiar 0.6345-0.6382 range Mon

  • Elevated U.S. yields, expectations of hawkish Fed cut cap recovery attempts

  • Weak Chinese economy, policy inertia weigh on CNY, undermine AUD

  • Strong chart support, uncertainty on Feb RBA rate cut limit downside

  • U.S. retail sales Tue, Fed rate decision Wed & core PCE price index Fri key

  • Australia's government updates budget outlook Wed, bigger deficits expected

  • Support 0.6335-0.6340, break opens 0.6300-05, 0.6271 , low in 2023

  • Resistance 0.6400-05, 0.6425-30

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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