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Aug 01 - 03:55 PM

AUD/USD - Key Fibo Remains Untouched Ahead Of The RBA

By Christopher Romano  —  Aug 01 - 01:40 PM
  • US$, US yield US10YT=RR help AUD/USD rally overnight, 0.7048 traded

  • Daily cloud base pierced, rally stalled near 61.8% Fib of 0.7282-0.6683

  • NY opened near 0.7040, pair fell on geopolitical concerns nL1N2ZD125

  • AUD/USD dipped below 0.7010, dip bought as stocksESv1, copperHGv1 lifted

  • Some US$ softness after US July PMI nL1N2ZD17G help buoy AUD/USD

  • Lift stalled short over the overnight high, pair slide as the US$ firmed

  • AUD/USD slide toward the daily cloud base, sat near 0.7020 late

  • RBA in focus, 50bps hike f/c, risk AUD/USD slips after meeting nL1N2ZD1FX

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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