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Dec 11 - 01:55 AM

AUD/USD - Powers Ahead In Commodities Driven Burst

By Krishna K  —  Dec 11 - 12:00 AM
  • AUD/USD up 0.4% in Asia, adds to Thur 1.25% rise; trades 0.7523-0.7572 range

  • Boosted by soaring prices for iron ore -the country's top export- and copper

  • Makes most of global reflation trade nL4N2IR00X with 7.8% gains this year

  • Australia pandemic control, stronger-than-expected economic recovery support

  • Test of resistance at 0.7638, 38.2% Fibo of 2011-2020 drop a matter of time

  • Break opens gradual rise to 0.7910, 100-month MA; support 0.7525, 0.7485-90

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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