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Oct 30 - 08:55 AM

AUD/USD - Bounce Might Only Be A Pause Before 0.7000 Breaks

By Christopher Romano  —  Oct 30 - 07:35 AM
  • AUD/USD up small on day, bounce could be start of consolidation phase

  • Pair range trading while above psychological support near 0.7000

  • AUD/USD buoyed by tighter AU-US spreads and USD/CNH CNH= drop

  • Small gains in copper HGv1, iron-ore DCIOc2 help buoy as well

  • Equities ESv1 are down though & might trump bull influences for AUD/USD

  • Should risk sours & safe-haven buying emerge AUD/USD 0.7000 break is likely

  • 23.6% Fib of 0.5510-0.7413, July monthly low are targets on 0.7000 break

  • For more click on FXBUZ






aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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