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Jan 08 - 04:55 PM

AUD/USD - Downbeat Risk Has Bulls Play Defense

By Christopher Romano  —  Jan 08 - 02:05 PM

• NY opened near 0.6200 after AUD/USD traded 0.62415-0.6188 overnight

• Pair rallied after US Dec. ADP and weekly jobless claims reports

• 0.6220 was neared but pair slid again, neared 0.6210down -0.3% late

• US yield gains helped buoy US$; USD/CNH rallied above 7.3600

• Equity drop & gold fall from its high helped lift US$

• Techs lean bearish; RSIs are falling & pair traded below 10- & 21-DMAs

• Australia Nov. balance on goods, China Dec. PPI & CPI are risks in Asia
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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