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Nov 07 - 07:55 PM

AUD/USD - Softer After The Offshore Jump - Risk, USD Lead

By Andrew M Spencer  —  Nov 07 - 06:40 PM
  • Off 0.05% after jumping 1.7% with the USD off 0.75% and softer UST yields

  • Commodities climbed - U.S. copper closed up 4.5% on China stimulus optimism

  • There is no significant Aus data or RBA events, so risk and USD lead AUD

  • It was a hectic week for event risk - Asia may consolidate into the weekend

  • Charts; 5, 10 & 21-day moving averages conflict, 21-day Bolli bands contract

  • Daily momentum studies edge higher - signals show a modest topside bias

  • Close above 0.6642 21 DMA targets a test of the 0.6722 high on Oct 21st

  • Thursday's 0.6565 base and this week's 0.6513 low are initial supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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