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TDUX
Sep 30 - 07:55 AM
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AUD/USD - Inflation Data Helps Bears Gain More Traction

By Christopher Romano  —  Sep 30 - 07:13 AM

• 0.6995-0.6959 traded overnight, a fresh 2-month low was struck

• NY opened near 0.6970, pair was down -0.24% despite broad-based USD selling

• Pair was weighed down by Australia August CPI rising less than expected

• Australia yields fell sharply on the inflation data

• Drops in gold, silver and equities contributed to AUD/USD moving downward

• AUD/USD's fall stalled just short of the 76.4% Fibo of the 0.6867-0.7238 rally

• Falling RSIs, hold below 200-DMA, monthly inverted hammer are bearish signals

• US Sep. ADP jobs report, Aug. PCE are data risks in NY's morning
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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