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Oct 20 - 01:55 PM

AUD/USD - Dip Buyers Emerge As Do Mixed Signals

By Christopher Romano  —  Oct 20 - 12:15 PM
  • AUD/USD fell to a 3-session low but then turned positive on the session

  • Risk-on sentiment drives gains; equities ESv1, commoditiesHGv1 rally

  • USD/CNH drop below 7.2220 reinforces risk-on, helps buoy high beta ccys

  • AUD/USD rallied above the 10-DMA and Oct. 18 & 19 daily highs, hit 0.63565

  • Daily RSI diverged on the low, bullish outside day candle is in place

  • Short-term technicals are flashing warnings to AUD/USD shorts

  • Monthly technicals remain bearish however, rally sellers likely lurk

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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