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Jul 04 - 12:12 AM
AUD/USD - Edging Towards 0.7050 As Shorts Cover
First appeared on eFXplus on Jul 03 - 10:20 PM
  • AUD/USD shorts covering after weaker Aus data couldn't send the pair lower nS9N21K01A nS9N21K018
  • Break of double top just below 0.7040 targets 200-day MA at 0.7097
  • Sellers tipped round 0.7050 with high so far at 0.7048
  • Market focus has shifted from RBA expectations to very dovish Fed outlook
  • AUD underpinned by buoyant risk assets in Asia and firm CNH

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Refinitiv IFR Research/Market Commentary


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