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Dec 10 - 11:55 PM

AUD/USD - Absence Of Bounce Leaves Support Vulnerable

By Krishna K  —  Dec 10 - 09:50 PM
  • AUD/USD unchanged in Asia after trading in a narrow 0.6369-0.6382 range

  • Consolidation sets in after sharp drop Tue on RBA's less hawkish tone

  • Pair vulnerable as RBA rate bets rise; 25 bps cut in Feb at 61% from 54% Tue

  • 1st cut fully priced for April, 2 by May as economy weakens significantly

  • Weak Chinese economy weighs but China stimulus pledges may cushion fall

  • U.S. inflation data in focus; CPI on Wed, PPI Thu, key for Fed expectations

  • Strong support base at 0.6340-0.6362, loss opens 0.6271

  • Resistance 0.6400-05, 0.6425-30

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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