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Jul 11 - 08:55 AM

AUD/USD - Major Fibo In Play Again With Help From Safe Havens, Commodities

By Christopher Romano  —  Jul 11 - 07:20 AM
  • Risk-off sinks equitiesESv1 commoditiesHGv1DCIOc2, yieldsAU3YT=RR

  • Safe-haven US$ up, USD/CNH above 6.7100, yen buys sink AUD/JPY below 93.00

  • AUD/USD hit 0.6860 in Asia, fell below the 10-DMA, sank in Europe's morning

  • NY opens near 0.6795 after an intra-session low of 0.6782 was hit in Europe

  • The 50% Fibo of 0.5510-0.8007 remains in focus a seems likely to breaks

  • Daily, monthly RSIs falling, consolidation phase in place is bearish

  • Break & sustained hold below the Fibo puts the June 2020 monthly low in play

  • NY Fed President Williams is an event risk in NY's afternoon

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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