AUD/USD: Near term risks to the downside – OCBC
Source Fxstreet
The Australian Dollar (AUD) traded with a heavy bias amid disappointment with Chinese stimulus post-NPC while higher UST yields, USD weighed. AUD was last seen at 0.6545 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Mild bullish momentum on daily chart is fading
“Near term, policy uncertainties associated with Trump presidency may continue to see swings in AUD but also, lack of impactful Chinese stimulus may well influence AUD volatility more.”
“Mild bullish momentum on daily chart is fading while RSI looks to head lower. Risks skewed to the downside for now. Support at 0.6490/0.6510 levels (recent low). Resistance at 0.6630/50 levels (21, 200 DMAs), 0.6690/0.6720 levels (50, 100 DMAs).”
“Data focus this week on wage price index (Wed), labour market report (Thu).”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Where Will Apple Stock Be in 5 Years?Apple (NASDAQ: AAPL) is worth a whopping $3.4 trillion as of this writing (Nov. 9), making it one of America's best corporate success stories. The company is an innovator and disruptor that puts its customer base first, which has helped it get to its dominant position.
Apple (NASDAQ: AAPL) is worth a whopping $3.4 trillion as of this writing (Nov. 9), making it one of America's best corporate success stories. The company is an innovator and disruptor that puts its customer base first, which has helped it get to its dominant position.
Lighthizer, allies preparing to argue for steep new Trump tariffs - PoliticoInvesting.com - President-elect Donald Trump's former US Trade Representative Robert Lighthizer and people close to him are laying the groundwork to pitch the benefits of potentially aggressive tariffs, according to Politico.
Investing.com - President-elect Donald Trump's former US Trade Representative Robert Lighthizer and people close to him are laying the groundwork to pitch the benefits of potentially aggressive tariffs, according to Politico.
This Potential Announcement Could Be the Next Big Move for BitcoinOnce dismissed as an internet oddity, Bitcoin (CRYPTO: BTC) has evolved into a major asset class, recently surpassing the market cap of silver. With its unique properties (a finite supply and highly decentralized and secure network), the cryptocurrency is turning even its greatest skeptics into believers.
Once dismissed as an internet oddity, Bitcoin (CRYPTO: BTC) has evolved into a major asset class, recently surpassing the market cap of silver. With its unique properties (a finite supply and highly decentralized and secure network), the cryptocurrency is turning even its greatest skeptics into believers.
Gold (XAU/USD) trades just above $2,600 on Wednesday after the precious metal’s November sell-off to seven-week lows found technical support at a major trendline.
Rocket Lab stock shoots up 35% on solid Q3 revenue growth, first Neutron customerInvesting.com -- Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up more than 35% in premarket trading Wednesday after the company reported its third-quarter earnings and announced news of the first customer for its upcoming Neutron rocket.
Investing.com -- Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up more than 35% in premarket trading Wednesday after the company reported its third-quarter earnings and announced news of the first customer for its upcoming Neutron rocket.
Related Instrument
