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Sep 24 - 12:12 PM
AUD/USD - Key Fibo Hold Aided By RBA's Lowe, Shorts Are Nervous
First appeared on eFXplus on Sep 24 - 10:05 AM
  • Pair rallies away from 61.8 Fib of 0.6678-0.6895, pierces 21-DMA

  • RBA's Lowe not as dovish,says gentle turning point for econ has been reached

  • Lowe still highlights downside risks but investors buy AUD/USD nS9N1SP02B

  • AUD/USD also buoyed by optimism on US-Sino trade issues nL5N26F47Q

  • Little pullback from high; close above 21-DMA, 0.6810 encourages bulls

  • Daily, monthly RSIs are rising, suggests longs have momentum on their side

  • Shorts need below 0.6750/60 zone to regain some control








chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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