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Nov 02 - 07:55 AM

AUD/USD - Bottoming Process Persists Ahead Of Fed Risk

By Christopher Romano  —  Nov 02 - 07:15 AM
  • US rates EDH2 softened slightly, drives general US$ weakness

  • USD/CNH neared 7.2770 before bouncing, iron-ore DCIOc2 gains

  • Equities ESv1 sink slightly while AUD/JPY trades down -0.50%

  • AUD/USD rallied 0.63855-0.6430 overnight, NY opens near 0.6425, +0.45%

  • Techs lean bullish; pair above 10- & 21-DMAs, daily & monthly RSIs rising

  • Daily chart show head & shoulders bottom forming, neckline near 0.6520

  • Completion of H&S bottom suggests AUD/USD can rally above 0.6800

  • Fed in focus, presser is key, investors look for hints of a pivot

  • For more click on FXBUZ




Source:
Refinitiv IFR Research/Market Commentary

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