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Jun 17 - 01:55 PM

AUD/USD - Shorts Lean On Key Impediments

By Christopher Romano  —  Jun 17 - 01:00 PM
  • AUD/USD neared the 10-DMA, 50% Fib 0.7282-0.6850, June 13 high Thursday

  • Sellers emerged however and today most Wed, Thurs gains have been erased

  • Daily RSI turns down again, monthly RSI fall deepens, neither is oversold

  • Test of May's monthly low at 0.6829 likely as risk sentiment is uncertain

  • Break of May's low would negate the monthly bull hammer candle signal

  • AUD/USD bears likely to become more confident if that signal is negated

  • 50% fib of 0.5510-0.8007 at 0.6759 & the 0.6645/85 zone then become targets

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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