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Nov 06 - 01:55 AM

AUD/USD - Steady In Asia After Hefty Gains Last Week

By John Noonan  —  Nov 05 - 10:20 PM
  • AUD/USD opened 0.6506 after rising 1.23% Friday following soft US jobs data

  • AUD/USD rose 2.83% last week and is 3.75% higher than Oct 26 trend low

  • After trading 0.6500 early Asia it settled around 0.6510/15

  • Resistance is at a double-top at 0.6522 and 50% of July/Oct fall at 0.6583

  • Key resistance is at the 200-day MA at 0.6618

  • AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 55-day MA at 0.6398 and the 10-day MA at 0.6388

  • RBA decision tomorrow likely to determine next move in the AUD/USD

  • Economists confident of 25 bp hike while market not so sure nL4N3C702G

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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