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Jul 18 - 01:55 PM

AUD/USD - Emerging Signals Building A Tailwind For Longs

By Christopher Romano  —  Jul 18 - 12:00 PM
  • Bull signals for AUD/USD are growing after the 21-DMA gets pierced

  • Support from the 10-DMA and rising daily RSI reinforce bull signals

  • July monthly bull hammer candle is another bull sign that's building

  • EquityESv1, commodityHGv1, yieldYTTc1 gains buoy risk & AUD/USD

  • Should upbeat risk sentiment persist AUD/USD rally likely to extend

  • RBA expected to hike 50bps Aug 2, should help underpin AUD/USD

  • 0.6860/75 is immediate resistance followed by 0.6895/0.6920

  • Break of the latter likely leads to a big short squeeze

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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