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Jul 01 - 03:48 PM
AUD/USD - Bears Pounce On Confident Bulls
First appeared on eFXplus on Jul 01 - 01:40 PM
  • 10-day high set in Asia after G20 sees some US-Sino trade tensions ease
  • Offers into 0.7050 cap, sharp reversal lower takes hold, extends in NY
  • 55-DMA & daily cloud base pierced, 0.6950 neared late in the day
  • Broad based US$ bid sinks pair, USD/CNH rally near 6.8650 weighs as well
  • Diverging RSIs, bear engulfing candle, cloud base break has techs bearish
  • RBA due & cut expected; bulls then look to date, Fed for help

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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