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Dec 28 - 06:55 AM

AUD/USD - Longs Take A Breather Ahead Of Key Hurdles

By Justin Mcqueen  —  Dec 28 - 05:20 AM
  • AUD pulls back from overbought levels ahead of Jun/Jul peaks (0.6895-0.69)

  • Although, persistent USD selling should keep pair underpinned

  • Meanwhile, yuan gains suggests AUD upside remains intact for now

  • Support resides at 100HMA (0.6814) which has defined the post-Fed rally

  • That said, the daily close should be closely watched

  • Close below prior days low (0.6818) would mark a key day reversal

  • Thus signal upside exhaustion

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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