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Feb 26 - 08:36 AM

AUD/USD - Another Leg Lower Begins

By Christopher Romano  —  Feb 26 - 07:35 AM
  • AU Q4 construction drops sharply nAPN04MI00, Q4 CAPEX tonight AUPNCE=ECI

  • Commodities HGv1CLv1 fall, highlights concerns over Covid-19 econ impact

  • AU short-term rate markets YBAU0 still price-in RBA cut RBAWATCH

  • Risk reversals AUD1MRR= see premiums for 1- & 6-mo puts over calls grows

  • Latest AUD/USD consolidation resolves with break to new 11-year low

  • RSIs imply bear momentum intact; barrier support likely into 0.6550 & 0.6500

  • AUD/USD bears likely target 76.4 Fib of 0.4775-1.1081 which is at 0.6263






chart: Click here

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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