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Aug 31 - 08:55 AM

AUD/USD - Longs Overcome Impediments, Key Fibo Now In Play

By Christopher Romano  —  Aug 31 - 07:39 AM
  • AUD/USD trades to a 10-session high in Asia on broad based US$ sales

  • Pair breaks the August 17 daily high, rallies to a high of 0.7341

  • AUD/USD gains aided by USD/CNH sharp drop towards 6.4540

  • Slide ensues as equities ESv1, copper HGv1 fall, US$ sales abate

  • AUD/USD old resistance turned into support in the 0.7320/25 area

  • US$ selling resumes in early NY, AUD/USD lifts back above 0.7330

  • Techs are bullish, daily RSI rising, monthly long legged doji in place

  • 76.4% Fib of 0.7426-0.7107 looms above, if breaks 55-DMA, cloud base eyed

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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