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Nov 02 - 08:55 AM

AUD/USD - Surges As Federal Reserve Shifts Its Outlook

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

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