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Nov 16 - 07:55 PM

AUD/USD - Opens Modestly Lower As Hawkish Fed And Lower Commodities Weigh

By John Noonan  —  Nov 16 - 05:35 PM
  • AUD/USD opens -0.22% after sellers ahead of 0.6800 capped again

  • Strong US data, hawkish Fed comments and lower commodities weighed nL1N32C1B4nL1N32C2MZnL8N32C2X0

  • Underpinning AUD was diminishing geopolitical fears regarding Poland nL1N32B2XU

  • Resistance has formed at 0.6790/0.6800 and break above would be bullish

  • The targets of a 0.6800 break is 0.6915 - which is the Sep 13 high and 50% of 2022 high-low

  • Bids are tipped ahead of 0.6700 with support at Monday low at 0.6664

  • AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish formation

  • Only a break below the 10-day MA at 0.6615 would suggest a top is forming

  • Aus Oct jobs data the key event today with market expecting +15 K jobs and unemp to edge up to 3.6% from 3.5%

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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