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Aug 04 - 01:55 PM

AUD/USD - Fed Comments Keep Corrective Price Action Intact

By Christopher Romano  —  Aug 04 - 12:47 PM
  • AUD/USD hits a 13-session high, nears the July 16 high, bear flag top

  • Fed's Bullard nL1N2PB1CR, Clarida nL1N2PB1FO comments rally US$, rates

  • AUD/USD falls sharply, erases all earlier gains and falls below the 21-DMA

  • Pair pierces the 10-DMA before bouncing off 0.7370, bounce is meager though

  • Daily RSI diverges, daily inverted hammer forms; are bearish signals

  • AUD/USD corrective rally off July's low, bear flag pattern are ongoing

  • Completion of flag pattern implies pair has potential to fall below 0.7250

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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