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Dec 31 - 01:55 PM

AUD/USD - Bears Reign And A Fresh 2024 Low Was Struck

By Christopher Romano  —  Dec 31 - 01:04 PM

• NY opened near 0.6210 after 0.6231 traded overnight, slide extended in NY

• Rise for US yields drove broad based US$ buying

• Commodity, stock drops & USD/CNH gains reinforced US$ buy theme

• AUD/USD traded to a 26-month low of 0.6179, was down -0.60% in NY afternoon

• Techs are bearish; RSIs falling, pair below 10-DMA, t-l off 2022 yearly low

• Support sits at 0.6170, the 2022 yearly low; break brings 0.6000 into focus
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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