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Jul 09 - 03:48 PM
AUD/USD - Bears Seem Confident Ahead Of Fed Rhetoric
First appeared on eFXplus on Jul 09 - 01:45 PM
  • New 4-day low on broad US$ bid & break of support near 0.6930
  • Equity & copper sales help push pair near 61.8 Fib of 0.6832-0.7048
  • US$ bid fades late but AUD/USD sees only a minor lift, near 0.6930 late
  • Techs favor bears, pair below 21- & 55-DMAs, daily cloud while RSIs fall
  • USD/CNH near 6.9000 & altered Fed views help weigh
  • AUD/USD longs need dovish Fed rhetoric if they want control back

chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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