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Sep 18 - 04:55 PM

AUD/USD - Fed's 50Bps Cut Drives Threat To 0.6825/75 Resistance

By Christopher Romano  —  Sep 18 - 02:40 PM
  • NY opened near 0.6785 which was just below the overnight 0.6789 high

  • Pair slid as US$ firmed on the back of US yield US2YT=RR gains

  • Drop ensued despite USD/CNH slide, equity ESv1 & gold XAU= rallies

  • AUD/USD neared 0.6755 then bounced, sat near 0.6770 into the Fed statement

  • US yields US2YT=RR, US$ fell after Fed 50bps cut, lowered rate & GDP views

  • USD/CNH fell below 7.0700, stocks ESv1 & gold XAU= rallies extended

  • AUD/USD hit a 3-week high, neared August's monthly 0.6824 high

  • Techs are bullish; rally followed Wednesday's doji, RSIs rising

  • Monthly bull hammer hold above slew of DMAs reinforces bullish signals

  • Australia August employment report is a risk in Asia Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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