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Oct 31 - 03:48 PM
AUD/USD - REFILE-BUZZ-AUD/USD Weak Into Close, Holds Above Cloud Top Support By 0.6880
First appeared on eFXplus on Oct 31 - 01:25 PM

Corrects dupe in headline

  • Pair off early NY high by 0.6914, ending NorAm 0.6886 by session low

  • Aussie holds by 3-month high, support by daily cloud top (0.6880) holding

  • AUD/USD up on reduced trade angst, softer Fed rate view nL2N27G0U2

  • Fed not-so-dovish cut aids bulls, res 0.6957 (200-DMA)

  • Abv 200DMA 50% Fib of 2019 range at 0.6983 attracts, opens way for Apr high

  • A drop in U.S.-China trade sentiment, or lower RBA rate view will stall rise

  • AUD weakness may be recent longs lightening position ahead of Friday U.S. NFP EM

AUD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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