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Jul 31 - 11:55 AM

AUD/USD - US Data, Daily Techs May Have Shorts Worried

By Christopher Romano  —  Jul 31 - 09:45 AM
  • AUD/USD hit a near 3-month low, 0.6480 traded then a sharp rally ensued

  • US July ADP, Q2 employment costs weighed down yields US2YT=RR, US$

  • AUD/USD rallied back above the 61.8% Fibo of the 0.693625-0.67985 rally

  • 0.6532 traded in NY after the data, pair remained down -0.15% however

  • Daily tech signals emerged which may cause AUD/USD shorts some concern

  • Daily RSI did not confirm today's low, large bull hammer candle formed

  • Daily cloud base begins rising & thinning next week, may act magnetically

  • Fed risk looms; if dovish clues hinted at AUD/USD may rally significantly

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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