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Higher Energy Prices Lend Support


Better risk tone supported AUD/USD on Monday, with higher energy prices lending additional support to the Aussie.

  • AUD/USD sits at $0.7490, barely changed on the day. Bulls keep an eye on Oct 21 high/50% retracement of the Feb - Aug sell-off at $0.7546/57 and a break here would expose Jul 6 high of $0.7599. Conversely, a fall through Oct 22 low of $0.7454 would clear the way to Oct 18 low of $0.7379.
  • Australia's quarterly CPI report will be published on Wednesday, while retail sales, private sector credit & PPI are due Friday. Elsewhere, RBA's Debelle & Bullock will appear before lawmakers on Thursday.

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