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Oct 06 - 03:55 PM

AUD/USD - Bears Stumble Near Structural Support

By Christopher Romano  —  Oct 06 - 01:42 PM
  • Equity ESv1, copper HGv1 overnight drops weigh down AUD/USD

  • Risk off drives US$, yen buys; AUD/JPY nears 80.55, USD/CNH pierces 6.4700

  • AUD/USD hits 0.7226 in Europe am then bounces, NY opens near 0.7235

  • Bounce extends toward 0.7270 as US$, yen buys abate & USD/CNH gains erode

  • Bounce in equity, copper prices help buoy AUD/USD, pair near 0.7260 late

  • Daily charts show possible right shoulder of inverse H&S bottom forming

  • Investors await US Sep jobs report due Friday after upbeat Sep ADP report

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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