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Nov 15 - 01:55 AM

AUD/USD - Fed Rate Caution Weighs; Mixed China Data Little Comfort

By Krishna K  —  Nov 14 - 10:30 PM
  • AUD/USD edges up in Asia as minor support at 0.6441, April 23rd low, holds

  • Light short-covering ahead of w/e after nearly 2% fall this week supports

  • Hawkish RBA outlook also buoys Aussie on crosses; AUD/JPY up 0.4% this week

  • Recovery muted though; Powell's caution on Fed rate cuts limits upside

  • China data scant relief as new home prices fall for 16th consecutive month

  • China Oct industrial output misses expectations, retail sales top forecast

  • 0.6441 break opens 0.6408, low on April 22nd; Major support 0.6348-0.6362

  • Resistance 0.6490-0.6500, 0.6515-20; Asia range 0.6446-0.6465

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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