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Feb 14 - 02:36 PM

AUD/USD - Early NorAm Gains Fade Ahead Of U.S. Holiday

By Paul Spirgel  —  Feb 14 - 01:20 PM
  • AUD/USD buoyed in early NY on sideways US retail sales data {nLNSEDEGI5]

  • AUD/USD ends NY 0.6714 -0.08%, Friday range 0.6732-0.6709

  • Recent AUD buyers lighten ahead of long US holiday weekend

  • Pair hovers near 10-DMA support by 0.6715, below eyes 2020 low 0.6657

  • Bull case weak below 0.6845, 50% Fib of 0.7032-0.6657 & multiple DMA area

  • Steady RBA and reduced coronvirus-related growth fears supports AUD rise

AUD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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