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Feb 22 - 08:55 AM

AUD/USD - US Dollar Bulls Help Drive Threat To 200-DMA

By Christopher Romano  —  Feb 22 - 07:10 AM
  • AUD/USD traded 0.68645-0.6812 overnight, NY opened near 0.6820

  • Below estimate Australian wage growth nL1N35201O was a drag on AUD

  • US rates EDZ3 softened but US$ rallied; USD/CNH rallied above 6.9050

  • Lower equities ESv1, commodities HGv1 helped to add weigh on AUD/USD

  • Pair's drop halted short of the 200-DMA (0.6804) which appears vulnerable

  • Daily, monthly RSIs falling, not oversold; implies downside momentum remains

  • Jan. 4 & 6 daily low, daily cloud base are support below the 200-DMA

  • Minutes of Fed Jan. 31-Feb. 1 meeting are a risk in NY's afternoon

  • For more click on FXBUZ



Source:
Refinitiv IFR Research/Market Commentary

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