By Christopher Romano — Jul 13 - 12:55 PM
AUD/USD encounters wild price swings after above estimate CPI nL1N2YU10J
Pair makes two runs down toward 0.6720 but the dips are bought each time
AUD/USD then rallied as stocks, copper, AUD/JPY bounce on improve risk
Pair turned positive and neared 0.6805; daily RSI rises, 10-DMA threatened
Pair back above 50% Fib of 0.5510-0.8007, is encouraging for longs
Break above 0.6860/75, 21-DMA needed to give longs greater control
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Source:
Refinitiv IFR Research/Market Commentary