By Christopher Romano — Apr 25 - 01:15 PM
Adds graaphic
AUD/USD rallied meagerly overnight, pierced the 21-DMA, neared the 10-DMA
Pair hit 0.67055 but sellers emerged, AUD/USD then fell sharply on risk-off
11-session low hit and AUD/USD lingered near the low after Europe's close
Pair's price action has intensified bearish technical signals
Daily, monthly RSI falling, not oversold; implies downside momentum building
Monthly inverted hammer candle formed for April & s-t up trend line broken
0.6545/65 is key support, Oct. monthly high, March monthly low in that zone
If risk-off intensifies zone may break; 0.6365/0.6405 then comes into focus
Australia Q1 CPI, RBA trimmed mean CPI are risks in Asia
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary