Australian Greenback (AUD) was a contact firmer this morning amid supported threat sentiment and enchancment in enterprise confidence, OCBC’s FX analysts Frances Cheung and Christopher Wong observe.
Bearish momentum on each day chart fades
“Trump confirmed an extension of commerce truce for one more 90 days into early November. This implies tariffs on China imports will keep at 30% whereas tariffs on US imports will keep at 10%. In the meantime, Nvidia and AMD have managed to strike a take care of US administration to promote superior chips to China by agreeing to pay the US authorities 15% of income from the gross sales.”
“AUD was final at 0.6520 ranges. Bearish momentum on each day chart pale whereas RSI rose. Resistance at 0.6550 ranges. Assist at 0.65, 0.6430 ranges.”
