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Nov 19 - 04:55 PM

AUD/USD - Ekes Out Gains As Commodities Continue To Recover

By Krishna K  —  Nov 19 - 04:20 PM
  • AUD/USD posts modest gains Tuesday, poised to close 0.35% higher on the day

  • Supported by bounce in commodities; NYK copper +1.15%, Dalian iron ore +1.7%

  • Dip-buyers grow in confidence after solid base formation at 0.6440-50

  • RBA's hawkish stance supports; central bank in no rush to ease

  • China loan prime rate fixing eyed Wednesday; RBA Governor Bullock speak Thu

  • Initial resistance 0.6533, 38.2% of 0.6687-0.6441 drop; break opens 0.6564

  • Support 0.6510-15, 0.6480-85; Tuesday range 0.6483-0.6533

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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