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Oct 20 - 03:55 PM

AUD/USD - Shorts Cannot Keep Up The Downside Momentum

By Christopher Romano  —  Oct 20 - 01:35 PM
  • AUD/USD opened NY near 0.6315 then made a move lower in early trading

  • Drop aided by iron-ore DCIOc2, equity ESv1 weakness, soured risk

  • 0.6301 traded when buyers emerged, pair then rallied toward 0.6325

  • US yield US2YT=RR, US$ drops buoyed AUD/USD; USD/CNH hit 7.3210 on D3

  • AUD/USD neared flat on the session, traded down only -0.08% late in the day

  • Daily bull hammer formed, may comfort longs but monthly techs lean bearish

  • Oct global PMIs, Australia Q2 CPI & US Oct PCE are key data risks next week

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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