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Jul 07 - 01:55 PM
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AUD/USD - Bears Take Back Some Ground From Bulls
By Christopher Romano — Jul 07 - 01:32 PM
• NY opened near 0.6945 after AUD/USD traded 0.6960-0.6936 overnight
• The pair rallied early as stocks, gold, silver moved upward & USD softened
• AUD/USD then fell as oil & USD/CNH rallied while gold, copper, silver sank
• Firmer USD, US yields also helped drive AUD/USD downward
• 0.6934 traded, the pair then neared 0.6940 late, it traded down -0.24%
• Daily RSI diverged & pair is below the 21-DMA, could be
concerns for bulls
audusd
(Christopher Romano is a Reuters market analyst. The views
expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters