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Sep 09 - 09:55 PM

AUD/USD - Nears Strong Support, Consolidation Likely

By Krishna K  —  Sep 09 - 07:35 PM
  • AUD/USD stays offered in Asia after closing 0.15% lower on Monday

  • Broadly stronger USD weighs as traders reduce bets on larger Fed rate cut

  • Chances of a 50 bps cut in Sep at 29%, had jumped to 50% after NFP data Fri

  • Growing concerns over China's economy, weak commodity prices undermine AUD

  • China August trade data Tuesday and U.S. CPI Wed key for immediate trend

  • Monday range 0.6688-0.6648; supports 0.6642-47, 0.6620-25,

  • Resistance 0.6685-90, 0.6720-25

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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