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Dec 06 - 08:55 AM

AUD/USD - A Key Fibo, Upbeat Risk Keep Longs In The Game

By Christopher Romano  —  Dec 06 - 07:39 AM
  • AUD/USD rallies away from Friday's 0.6994 low, hits 0.7041

  • Lift aided by equity ESv1, copper HGv1, yield AU3YT=RR gains

  • AUD/USD gains despite USD/CNH CNH= rally and gains towards 6.3800

  • AUD/USD holding just below the magnetic 38.2% Fib of 0.5510-0.8007

  • Daily RSI turns up and close to rising above oversold territory

  • AUD/USD short covering risks grows as key event data risks loom

  • RBA tonight & US, China, German Nov inflation due later in week

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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