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Dec 09 - 07:55 AM

AUD/USD - Longs Are Riding High Ahead Of US PPI

By Christopher Romano  —  Dec 09 - 07:20 AM
  • AUD/USD fell toward the 10-DMA in Europe's am, 0.6754 hit, buyers emerged

  • Softer US rates EDM3 & general US$ weakness help drive risk-on trading

  • Equities ESv1, commodities DCIOc2 gain while USD/CNH trades lower

  • AUD/USD opens NY near 0.6785, is up +0.24% ahead of Nov. US PPI report

  • Techs lean bullish; RSIs rising, pair above rising 10- & 21-DMAs

  • Potential H & S top on daily chart, monthly doji may be warnings for longs

  • Dec. U. Of Michigan is an additional data risk during NY trading

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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