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Nov 11 - 11:55 PM

AUD/USD - Continues To Consolidate Recent Gains

By John Noonan  —  Nov 11 - 10:25 PM
  • AUD/USD opened within 5 pips of 0.7285 for the third straight day

  • It traded in a 0.7275/94 range and was around 0.7280 into the afternoon

  • It got a lift when NZD/USD spiked to 0.6915 on comments from RBNZ's Hawkesby nL1N2HY02C

  • AUD/USD resistance is at 0.7340/45 where it has topped out on 3 occasions

  • Support is at the 38.2 of the 0.6990/0.7340 move at 0.7206

  • A break below 0.7200 would suggest a short-term top is in place

  • Key will be durability of risk rally that has persisted for over a week

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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