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Aug 11 - 04:55 AM

AUD/USD - Falters Before US CPI, May Return To Bearish Mode

By Ewen Chew  —  Aug 11 - 02:48 AM
  • AUD/USD slips modestly before likely solid US CPI data

  • Faster US inflation rise could accelerate Fed bond tapering

  • Resistance near 0.7380 strengthens due to convergence

  • 21 DMA meets Fibo retracement, reinforcing chart top

  • Bearish channel affirmed on Wed close below 0.7343

  • Descent would then resume toward 0.7200 psych barrier

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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