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Aug 11 - 02:55 AM

AUD/USD - Could Be About To Disappoint Opportunistic Bulls

By Ewen Chew  —  Aug 11 - 01:25 AM
  • AUD/USD turns lower, last 0.7066 from Thurs peak 0.7095

  • Reversal hints at failure to cross 100 DMA 0.7088

  • Confirmation that resistance has held will weaken bulls

  • Pullback may extend if 38.2% Fibo support 0.7056 breaks

  • May cue bailing of AUD/USD longs betting on slower Fed hikes

  • Several Fed members reiterated hikes to continue nL1N2ZN06B

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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