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Aug 30 - 08:55 AM

AUD/USD - Magnetic Fibo Trumps Stocks, Commodity Gains

By Christopher Romano  —  Aug 30 - 07:31 AM
  • AUD/USD rallies to a 9-session high of 0.73185 in the Asia session

  • Friday's US$ selling fails to sustain momentum, buyers emerge

  • USD/CNH rallies slightly, nears 6.4690, US$ firm vs other EM ccys

  • Equities ESv1, copperHGv1 rally but are unable to help buoy AUD/USD

  • Pair falls back below the 61.8% Fib of 0.7426-0.7107, nears 0.7285

  • Daily RSI diverges on the high, long upper wick on daily candle

  • Break of 0.7280/85 zone should drives test of 0.7240, 0.7220/25 supports

  • For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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