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Oct 31 - 02:36 AM
AUD/USD - Close Key, Softer USD Supports, But A Positive Setup
First appeared on eFXplus on Oct 31 - 12:20 AM
  • +0.24%, with the USD broadly weaker post FOMC, as short risk trades unwound

  • AUD/JPY +0.1%, AUD/NZD -0.3% - consistent heavy AUD/USD and cross volumes

  • IOS futures currently price a Dec RBA cut 24.48% from 42.76% yesterday

  • Fed joined the RBA on hold and market is pushing out rate cut timing

  • Strong building approvals +7.6% m/m, China PMI miss nL3N27G0EL - no impact

  • Close above 0.6895 today will leave a bullish outside month - big positive

  • Daily momentum studies, 5, 10 & 21 DMAs track north - bullish setup

  • 0.6925, 61.8% July Oct caps - break would target 0.6957 200 DMA

aud oct 31 Click here

Source:
Refinitiv IFR Research/Market Commentary

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