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Narrow Ranges On Monday

AUD

AUD/USD last prints at $0.6705/10, the pair is ~0.1% firmer today.

  • AUD has sit in narrow ranges on Monday morning, see-sawing around the $0.67 handle as moves have had little follow through.
  • The uptrend in AUDUSD remains intact. Wednesday's gains and Thursday's follow through reinforce this theme. Resistance comes in at $0.6729 High Dec 14 and $0.6747 76.4% retracement of the Jul 13 - Oct 26 bear leg. Support is at $0.6655 Low Dec 14.
  • Cross asset flows are muted; US Tsys are little changed as are US Equity futures. BBDXY is unchanged from Friday's closing levels.
  • Looking ahead, due tomorrow is the RBA minutes of the December policy meeting.

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