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Dec 19 - 05:55 PM

AUD/USD - Snaps Back From 2-Year Low, Upside Limited

By Krishna K  —  Dec 19 - 04:45 PM
  • AUD/USD Opens 0.3% higher after trading in a 0.6199-0.6265 range on Thursday

  • Snaps back from 2-yr low hit in Asia as 2.2% drop since Wed seen as overdone

  • Upside limited as elevated U.S. yields and broad USD strength cap rallies

  • Robust US growth, weak Chinese economy, lower commodities will weigh on AUD

  • Copper at 5-wk low, iron ore nears 1-mth low on China concerns, Fed outlook

  • China loan prime rate fixing and US November PCE are event/data risks Friday

  • Support 0.6200-05, 0.6170, 2022 low, resistance 0.6270-75, 0.6300-05

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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