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Dec 09 - 06:55 AM

AUD/USD - Fragile Bid Despite Improved Backdrop

By Peter Stoneham  —  Dec 09 - 06:15 AM
  • Optimism the driver and this underpinning the Aussie early Friday

  • Risk sentiment and frothy commodities helping AUD/USD to a 4-day high

  • Offers just above 0.6800 capped the bull run and now softer Europe midday

  • China is easing its zero-COVID policy: officials eye increased growth

  • U.S. PPI data also in the Friday mix and next week's U.S. CPI data

  • AUD/USD support runs in at 0.6738, 10-day moving average

  • Initial resistance 0.6800, session high: Dec. 5 0.6851 high next level

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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