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Nov 12 - 01:55 AM

AUD/USD - Slips Into Bearish Channel; New Lows In Sight

By Ewen Chew  —  Nov 12 - 12:30 AM
  • AUD/USD slips into Bollinger downtrend channel, last 0.6553

  • Tues close below 0.6566 confirms bearish technical bias

  • Points to test of last Wed trough 0.6510, then 0.6500 barrier

  • Below that psych level, Aug low of 0.6346 becomes visible

  • Looming Trump threat to China, thereby commodities, weighs

  • Market still pricing in likely inflationary Trump policies

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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