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Aug 08 - 01:55 PM

AUD/USD - Shorts Cede Some Ground But Rule The Day

By Christopher Romano  —  Aug 08 - 01:20 PM
  • AUD/USD opened NY near 0.6505 then extended the overnight slide to 0.6497

  • USD/CNH rally to 7.2514, equity HGv1 & commodity HGv1 drops helped buoy

  • Buyers emerged however as US$ buys abated & riskier assets bounced

  • US Treasury yields slid a bit after the three-year auction results

  • AUD/USD lifted above 0.6525, traded down -0.75% at the time of writing

  • Techs are bearish; RSIs falling, pair below 10-DMA, l-t trend line broken

  • China July CPI, PPI are key data risks in Asia trading hours

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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