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Dec 05 - 02:55 AM

AUD/USD - Consolidates As USD Trades Softer; Upside Limited

By Krishna K  —  Dec 04 - 10:15 PM
  • AUD/USD unchanged in Asia after trading in a narrow 0.6422-0.6437 range

  • Early selling pressure abates as AXJ currencies rise, U.S. yields stay soft

  • Upside limited on scaled up RBA rate cut expectations after weak GDP on Wed

  • 25 bps RBA rate cut fully priced in now for April; Odds of Feb cut at 51%

  • Downside limited as Fed Dec rate cut odds rise and U.S. yields decline

  • Strong support at 0.6400-05, clear break opens 0.6348-62

  • Resistance 0.6440-45, 0.6475-80; Asia range 0.6422-0.6434

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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