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Aug 15 - 07:55 AM

AUD/USD - Remains On Shaky Ground Despite PBOC Rates Shock

By Martin Miller  —  Aug 15 - 06:05 AM
  • AUD/USD plumbed nine-month lows on China woes Monday nL1N39V081

  • But downside could be limited as China ease rates Tuesday nL4N39W0Y4

  • Spot fell from 0.6521 to 0.6462 Tuesday, but still above Monday's 0.6454 low

  • 0.6454 9 month low set due to China credit data, property woes nL1N39V081

  • Signs are AUD/USD is oversold, there could be a much bigger recovery

  • A break above Friday's 0.6533 high needed to warn of a AUD/USD base

  • 30-day bolinger-bands are diverging, highlighting raised volatility

Source:
Refinitiv IFR Research/Market Commentary

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