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AUD: Risk Rally Puts AUD/USD, NZD/USD at Multi-Month Highs

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

AUD/USD's post-PCE rally is picking up again headed into the London close - resulting in a 0.6935 and not only a break of resistance at 0.6915, the 0.618 projection of the Aug 5 - 29 - Sep 11 price swing, but also the highest print since February last year.

  • Moves are well tied to the upswing in risk, as the pull higher in the e-mini S&P supports growth proxies as it tests yesterday's high and alltime highs of 5830.00.
  • In tandem, NZD/USD strength is now challenging 0.6369, the Dec 28 '23 high. Clearance here puts the pair on course to test 0.6365 further out.
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AUD/USD's post-PCE rally is picking up again headed into the London close - resulting in a 0.6935 and not only a break of resistance at 0.6915, the 0.618 projection of the Aug 5 - 29 - Sep 11 price swing, but also the highest print since February last year.

  • Moves are well tied to the upswing in risk, as the pull higher in the e-mini S&P supports growth proxies as it tests yesterday's high and alltime highs of 5830.00.
  • In tandem, NZD/USD strength is now challenging 0.6369, the Dec 28 '23 high. Clearance here puts the pair on course to test 0.6365 further out.