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Mar 11 - 01:55 PM

AUD/USD - Price Action Bolsters Bearish Short-Term Tech Signals

By Christopher Romano  —  Mar 11 - 11:35 AM
  • AUD/USD hit a 2-mo high Friday but most gains eroded, gravestone doji formed

  • A price drop follows that doji Monday, confirms the Friday's bearish signal

  • Daily RSI fell further while the 55-DMA and daily cloud base were pierced

  • Support in the 0.6590/0.6600 area is looking vulnerable at the moment

  • US Feb. CPI, PPI loom; above f/c data may rally US$ sharply, sink AUD/USD

  • Monthly techs remain bullish however, suggests down moves may be limited

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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