By Peter Stoneham — Nov 02 - 06:50 AM
A significant two-day rally in the AUD
A near 3% gain since basing at 0.6271 on Oct 26
The steep fall in US yields contrasts with hawkish RBA expectations
Official talk of Fed ending its hawkish campaign helping the AUD
Fed line contrasts with the RBA: Australia rate risk grows
AUD/USD breaks into a thick Ichimoku cloud: 0.6424-0.6588 parameters
Rally already meets a minimum correction level at 0.6418
The next Fibo level off the 0.6895-0.6271 Jul. 13-Oct. 26 drop at 0.6509
Support at 0.6391, the 50-day moving average line
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary