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Oct 12 - 01:55 PM

AUD/USD - Bears Are Close To Gaining Some Traction

By Christopher Romano  —  Oct 12 - 11:45 AM
  • Rally off September monthly low stalls short of 61.8% Fib of 0.7413-0.7006

  • AUD/USD opens week lower after PBoC FX RRR cut to 0% nL4N2H1080

  • Old resistance turned into support near 0.7210 is now threatened

  • The Oct 1 & 6 daily highs, 55-DMA halt the slide but little bounce seen

  • Break of that support suggests Friday's break higher was false

  • Bears to gain confidence on support break, will target 0.7120/25, 0.7085/95

  • For more click on FXBUZ




aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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