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Dec 02 - 01:55 PM

AUD/USD - Shallow Correction Concerns Dip Buyers

By Christopher Romano  —  Dec 02 - 11:40 AM
  • AUD/USD drops in overnight trade, soured risk sentiment weighed

  • Fall stalls short of the 10-DMA, bounce ensues & pair turns +ve on day

  • Equity .SPX, copper HGv1, AUD/JPY rallies off lows help buoy AUD/USD

  • Pair nears resistance, consolidation range top in 0.7410/15 region

  • Those looking to buy a deeper dip might have to become more aggressive

  • Should consolidation range top break the phase is likely complete

  • Completion implies big rally possible, above 0.8100 can't be ruled-out

  • For more click on FXBUZ





aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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