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Thomson Reuters
Jul 03 - 12:12 PM
AUD/USD - Risk Rally Cannot Break Consolidation
First appeared on eFXplus on Jul 03 - 10:20 AM
  • Pair up on the day on upbeat risk but can't clear 0.7415/25 resistance
  • 10-Day SMA acts magnetically to keep rally in check
  • RBA offers little help as AU govt yields barely budge & remain near lows
  • Consolidation of long-term losses near 61.8 Fib of 0.6827-0.8136 to persist
  • Close below the Fib and 0.7300 should embolden bears & put 0.7130/70 in play
  • Bulls need above 0.7440/80 resistance zone to ease immediate bear pressure

chart: Click here

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