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Oct 13 - 03:55 PM

AUD/USD - Under Immense Pressure As Bears Target 2023 Low By 0.6286

By Paul Spirgel  —  Oct 13 - 01:35 PM
  • AUD/USD opened NY 0.6310, drifted lwr in Noram, trading 0.6335-0.6287

  • UST yield dip no salve for AUD weakness on Mideast strife, weak China econ

  • 2023 low at 0.6286 holding for now but facing considerable pressure

  • A close sub-0.6286 targets Nov 2022 wkly low 0.6273, Oct 21 wkly low 0.6208

  • More firm support at 0.6170's Oct 13 2022 yearly low

  • AUD$ fell below 21- & 10-DMAs, hit a 4-session low by 0.6315 late Thurs

  • AUD/USD threatens 2023 low given weekend risk nL1N3BJ1MU

  • Techs lean bearish; RSIs falling & rally off Oct 3 low was only corrective

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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