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
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Source:
Refinitiv IFR Research/Market Commentary