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Jan 14 - 08:55 AM

AUD/USD - Bulls Struggle To Hold Gains Ahead Of US PPI

By Christopher Romano  —  Jan 14 - 07:07 AM

• AUD/USD rallied sharply in Asia with help from USD/CNH fall to 7.3350

• AUD/USD rallied 0.6175-0.6207 in overnight trading, NY opened near 0.6180

• Commodity , equity gains also helped pair trade higher

• Softer US yields & AUD/JPY gains added buoyancy to AUD/USD

• Pull back from overnight high aided by US$ buying in Europe's morning

• AUD/USD traded up only +0.08% in early NY & techs had a bearish lean

• Pair below 10-DMA, monthly RSI falling, long upper wick on daily candle

• US Dec. PPI, remarks from Fed's Schmid, Williams are risks Tuesday
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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