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Sep 10 - 01:55 PM

AUD/USD - Cloud Thwarts Bulls, China News Wakes Bears

By Christopher Romano  —  Sep 10 - 12:04 PM
  • AUD/USD rallies to 0.74085 in early NY, stalls near the daily cloud base

  • Equity sell-off leads AUD/USD below 0.7400 but China news has bigger impact

  • BBG reports Biden admin weighs probe of China subsidies nL4N2QC30N

  • Risk sours further, US$ buying ensues, USD/CNH rallies towards 6.4400

  • AUD/USD gives up all of session's earlier gains, trades to 0.7360

  • Daily gravestone doji forms, daily RSI turns lower, techs lean bearish

  • Support near 0.7350 now in focus, break puts 21-DMA, 0.7285/90 in play

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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