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Nov 18 - 08:55 AM

AUD/USD - US Dollar Weakness Help Keep Consolidation Intact

By Christopher Romano  —  Nov 18 - 07:20 AM
  • US rates EDH3 rise but US$ is down vs most major ccys & some EM ccys

  • AUD/USD rallied 0.6682-0.6727 overnight, NY opened near 0.6710

  • Equity ESv1, iron-ore DCIOc2 gains also help underpin AUD/USD

  • Consolidation of rally off the Nov. 10 daily low remains intact

  • Daily RSI rising again after unwinding its overbought condition

  • Pair's hold above the daily cloud, rising monthly RSI reinforce bull signs

  • US October existing home sales USEHS=ECI is a data risk in NY

  • Boston Fed President Collins is an event risk during NY hours

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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