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Jul 23 - 08:55 AM

AUD/USD - Correction Signals Increase As U.S. Slide Pauses

By Christopher Romano  —  Jul 23 - 08:20 AM
  • Equities ESv1 are up; copper & iron-ore are trade just below recent highs

  • US$ =USD hit a 4-month low but stalls near March low then bounces sharply

  • US-Sino tensions simmer, USD/CNH rallies from 6.9930 area towards 7.0100

  • AUD/USD drops from 0.7162 overnight high, nears 0.7110 as NY gets going

  • July 22 inverted daily hammer followed by another inverted hammer today

  • Daily RSI turns from overbought territory, s-t downside momentum likely

  • Monthly RSI implies longer-term bullish momentum remains though

  • Close & hold above the 61.8 Fib of 0.8136-0.5510 will bolster bullish techs

  • Dip buyers lurk; supports near 0.7070 & 0.7040/45 For more click on FXBUZ












aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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