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Oct 16 - 08:55 AM

AUD/USD - Key Support Is Hanging By A Thread

By Christopher Romano  —  Oct 16 - 07:20 AM
  • AUD/USD rallied 0.6299-0.6332 overnight, NY opened near 0.6320, +0.35%

  • Lift aided by general US$ sales, iron-ore DCIOc2 & equity ESv1 gains

  • Techs lean bearish; monthly RSI falling & pair below 10- & 21-DMAs

  • Consolidation of drop from Oct 11 high reinforces bearish the signals

  • 0.6270/85 remains key support, if breaks 2022 yearly low at 0.6170 in focus

  • October Fed NY manufacturing index is the sole data risk in NY hours

  • Remarks from Fed's Harker a risk in NY; RBA minutes release a risk in Asia

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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