After recovering, the 20 December AUDUSD Technical Forecast shows the pair seems to have found a comfort zone between 0.7630 and 0.7700. Learn more.
20 December, GKFX – Despite the US tax reform optimism and the resulting rise in the Treasury yields, the AUD/USD pair is trading above the 50-day MA of 0.7659.
20 December AUDUSD Technical Forecast
- Aussie holds above 50-day MA.
- AU-US yield spread widens, AUD/USD could test 200-day MA hurdle.
The resilience is not surprising, given the spread or the difference between the 10-year Aussie bond yield and the US Treasury yield has increased in the AUD-positive manner to 19 basis points (bps) today from the previous day’s print of 12 bps.
The AUD favourable yield spread indicates the spot could rise to 200-day MA hurdle of 0.7692.
Support levels: 0.7640 0.7600 0.7570
Resistance levels: 0.7700 0.7730 0.7770
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