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Jul 22 - 08:55 AM

AUD/USD - Bulls Undeterred Despite Rising U.S.-Sino Tensions

By Christopher Romano  —  Jul 22 - 07:50 AM
  • US-China tensions escalates on Houston consulate closure nB9N2EM02Y

  • Equity futures ESv1 sink but copper HGv1, iron-ore DCIOc2 are buoyed

  • US$ offered as bond yields US10YT=RR sink and fed fund FFM1 prices rise

  • Yen sales drive AUD/JPY higher, pair is approaching the June monthly high

  • AUD/USD bulls stumble after US-China news but recover and rally pair again

  • Pair above 61.8% Fibo of 0.8136-0.5510, trades to 0.71705 intra-day high

  • April 2019 monthly high (0.7206) is the next impediment for bulls

  • Break of that high targets 0.7285/95 For more click on FXBUZ











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Source:
Refinitiv IFR Research/Market Commentary

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