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Nov 08 - 11:55 PM

AUD/USD - Recovers From Dip As Risk Assets Remain Buoyant

By John Noonan  —  Nov 08 - 10:25 PM
  • AUD/USD opened +0.59% at 0.6508 after lower US yields weighed on USD nL1N3241IL

  • It came under gentle pressure early Asia as longs pared ahead of key events

  • AUD/USD traded down to 0.6488 before rebounding back to 0.6510

  • Risk assets were buoyant with the AXJ index +0.47% & Dalian iron ore +2.75%

  • AUD/USD resistance at the 55-day MA, which descends to 0.6544 from 0.6551

  • A clear break above 0.6550 targets the 50% of the July/Oct drop at 0.6653

  • Support is at the 10-day MA at 0.6424 and break would ease upward pressure

  • Deputy RBA Governor Bullock speaks later today when London is open

  • Key event will be the US CPI and impact it has on US yields

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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