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Sep 30 - 03:55 PM

AUD/USD - Longs Put On Defense Into The Weekend

By Christopher Romano  —  Sep 30 - 01:40 PM
  • Weaker US rates, US$ helped AUD/USD hit 0.6523 overnight but gains faded

  • Intense sterling sales brought on a bout of risk-off trading, buoyed US$

  • USD/CNH rallied above 7.1300, AUD/JPY fell towards 92.90

  • Equity ESv1 gains eroded and copper HGv1 turned negative on the day

  • AUD/USD fell below the 61.8% Fib of 0.5510-0.8007 then struck 0.6418

  • Techs lean bearish; RSIs falling, daily inverted hammer candle formed

  • Break of Sept. 28 low will negate bull signal, likely resume down trend

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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