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Dec 05 - 01:55 PM

AUD/USD - Troubling Signs For Longs Emerge Ahead Of The RBA

By Christopher Romano  —  Dec 05 - 11:40 AM
  • AUD/USD hit a 3-month high Monday but then turned lower on the session

  • Upbeat US data nL1N32V160 sent US rates EDH3 & the US$ sharply higher

  • Risk soured; stocksESv1, commoditiesHGv1 fell & USD/CNH bounced up

  • AUD/USD broke the Dec. 2 low & 10-DMA, hit 0.6725 into Europe's close

  • Daily RSI diverged on today's high, daily bear engulfing candle formed

  • Monthly RSI falling now as well & a monthly gravestone doji have formed

  • Up trend off Oct. low intact but a deep corrective pull back seems likely

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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