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Nov 19 - 11:55 PM

AUD/USD - Hovers Near 1-Week High, Downside Likely Limited

By Krishna K  —  Nov 19 - 09:50 PM
  • AUD/USD unchanged in Asia, pauses after hitting 1-week high of 0.6545

  • Likely to remain bid on dips as sentiment improves and strong base forms

  • Repeated hold of 0.6440-50 encourages dip-buyers, bargain hunters

  • Hawkish RBA supports; c.bank vigilant on inflation, firmly on hold on rates

  • Traders await fresh clues on Trump policy and Fed's rate path

  • Concerns about slower Fed rate cuts, China's economy likely to cap raliies

  • China leaves loan prime rates unchanged Wed; RBA Governor Bullock speaks Thu

  • Initial resistance 0.6533, 38.2% of 0.6687-0.6441 drop yields;0.6562-64 next

  • Support 0.6510-15, 0.6480-85; Asia range 0.6529-0.6544

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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