By Krishna K — Nov 14 - 03:30 PM
AUD/USD -0.6% heading into New York close as Powell cautions on rate cuts
Hits a 3-month low of 0.6441 as USD rallies broadly on Powell comments
Powell says no need for Fed to rush rate cuts given strong economy
USD index hits 1-year high, U.S. yields recover from earlier pullback
Elevated U.S. yields, sliding commodities, China concerns weigh on AUD
Support 0.6441 April 23 low, break opens 0.6408, low on April 22nd
Major support base at 0.63485-0.63625; resistance 0.6490-0.6500, 0.6515-20
China monthly activity data Friday awaited; Thu range 0.6441-0.64995
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary