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Jan 13 - 07:55 PM

AUD/USD - Lifted By Technical Buying, China Yuan Measures

By Krishna Kumar  —  Jan 13 - 06:21 PM

• AUD/USD up 0.2%, rallies further in Asia after closing 0.45% higher Mon

• Boosted by technical buying ahead of strong Fibonacci support at 0.6099

• China measures to bolster CNY, better-than-expected China data lift AUD

• Upside limited as U.S. 10-year yield hovers near 14-month high

• Growing likelihood of RBA 25 bps Feb rate cut will also limit AUD recovery

• 0.6099 loss, 76.4% of 0.5510-0.8007 rally, opens 0.5980 April 2020 low

• Intermediate supports 0.6150-55, 0.6130, resistance 0.6200, 0.6220-25

• Asia range 0.6175-0.6196; Monday global range 0.6131-0.6177
AUD:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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