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Oct 03 - 08:55 AM

AUD/USD - US Yield Gains Let Shorts Hold The Reins

By Christopher Romano  —  Oct 03 - 07:30 AM
  • AUD/USD traded 0.6367-0.6295 overnight, NY opened near that low

  • RBA left rates unchanged & showed no urgency to hike again

  • US yield US10YT=RR gains drove broad US$ buys; USD/CNH hit 7.3301 (D3)

  • CommoditiesHGv1, equitiesESv1 fell on fear rate gains will hurt growth

  • AUD/USD struck an 11-month low and technicals highlight downside risks

  • RSIs are falling & aren't oversold, AUD/USD remains below 10- & 21-DMAs

  • November 2022 monthly low at 0.62725 is support; stops likely below

  • Break of that monthly low brings the 2022 0.6170 yearly low into focus

  • Aug JOLTS, comments from Fed's Bostic are risks in NY Tuesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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