China headlines help AUD/USD hold critical support.
The AUDUSD finished higher o/n at .6440 (+0.80%) boosted by reports that China will increase support for its economy.
We suspect yesterdays China headlines help the AUD/USD remain above critical multi month support at .6370/50 for now, despite the likelihood of a dovish pivot this afternoon from the RBA as outlined in the article ⬇️
The AUD/USD would need to rebound above resistance at .6550 to suggest that a stronger recovery can occur.
ig.com/au/news-and-trade-ideas/what-is-driving-the-aud-usd-to-a-13-month-low--241209
We suspect yesterdays China headlines help the AUD/USD remain above critical multi month support at .6370/50 for now, despite the likelihood of a dovish pivot this afternoon from the RBA as outlined in the article ⬇️
The AUD/USD would need to rebound above resistance at .6550 to suggest that a stronger recovery can occur.
ig.com/au/news-and-trade-ideas/what-is-driving-the-aud-usd-to-a-13-month-low--241209
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