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TDUX
Oct 01 - 08:55 AM
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AUD/USD - Bears Stumble After New Low Trades

By Christopher Romano  —  Oct 01 - 07:07 AM

• 0.6956-0.6931 traded overnight, pair fell to levels not seen since July 29

• Overnight gains in US yields, USD & USD/CNH weighed on the pair

• AUD/USD moved upward in Europe's morning however, turned positive

• NY opened near 0.6950, AUD/USD traded up +0.03% in early action

• US yields turned lower while USD & USD/CNH selling took hold

• Rallies in gold, silver and equities contributed to USD's drops, AUD/USD's lift

• Daily doji formed & daily RSI diverged on the low; could be warnings for bears

• US jobless claims, Sep. ISM manufacturing PMI are data risks in NY
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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