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Nov 11 - 08:55 AM

AUD/USD - Bulls Retreat As Signals Conflict

By Christopher Romano  —  Nov 11 - 07:35 AM
  • Equities ESv1, iron-ore DCIOc2 up on the session, AUD/JPY up small

  • AU-US 3-yr spreads show US$ yield advantage growing; copper HGv1 drops

  • USD/CNH rallies toward 6.6280 while many EM ccys are lower vs US$

  • Overnight AUD/USD rally stalls at 0.73185, falls to 0.7268 in early NY trade

  • Daily inverted hammer forms; conflicting signal to Tues. daily bull hammer

  • 23.6% Fib 0.6990-0.7340 & Nov. 6 low are support, a break targets 0.7205/10

  • Bulls need break of 0.7340/45 resistance in order for rally to resume

  • AUD/USD might consolidate 0.7240/0.7340 for now For more click on FXBUZ





aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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