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Apr 27 - 08:55 AM

AUD/USD - Inflation, Improved Risk Boost Longs, Fibo Still Vulnerable

By Christopher Romano  —  Apr 27 - 07:20 AM
  • AUD/USD rallied overnight on above f/c RBA trimmed mean CPI nL2N2WP03K

  • AU 3-yr yield AU3YT=RR gains as investors price in RBA rate hikes

  • CopperHGv1, iron-oreDCIOc2, equityESv1, AUD/JPY gains buoy AUD/USD

  • USD/CNH slide lower also helps rally AUD/USD to 0.7190 in overnight trade

  • Some AUD/USD gains erode as US$ gets boosted on US yieldUS10YT=RR gains

  • AUD/USD still up +0.35% into NY open, pair sits near 0.7150

  • Techs mixed; daily RSI diverged, monthly falling, day inverted hammer forms

  • 76.4% Fib 0.6968-0.7661 pierced but no close below yet, seems likely however

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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