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Jan 06 - 01:55 PM

AUD/USD - US Data Helps Longs Take The Reins

By Christopher Romano  —  Jan 06 - 01:25 PM
  • Higher US rates EDZ3, US$ sank AUD/USD overnight, pair hit 0.6722 early NY

  • Losses erased however as rates, US$ fell & risk-on sentiment took hold

  • Riskier asset rallied with help from US data nL1N33Q2P6nN9N32B00C

  • Equities ESv1, commodities HGv1 rallied & USD/CNH fell below 6.8290

  • AUD/USD rallied above the Jan. 5 daily high and the 200-DMA, hit 0.6870

  • Techs lean bullish; RSI rising, monthly bull hammer candle is in place

  • Ongoing consolidation of gains off 2022 low reinforces bull signals

  • US Dec. CPI is a risk June 12; downside surprise may see 0.6890/0.6915 break

  • For more click on FXBUZ



Source:
Refinitiv IFR Research/Market Commentary

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