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Mar 23 - 01:55 PM

AUD/USD - Big Topping Pattern Near Complete On Fed, China Tensions

By Christopher Romano  —  Mar 23 - 01:18 PM
  • China, western nations impose sanctions nL1N2LK1T1, risk sours

  • Equities ESv1, copper HGv1, AUD/JPY drop as investors seek safe-havens

  • Fed's Kaplan helps US yields bounce from low nN9N2GC029 & boost US$

  • AUD/USD bounce from overnight low (0.7656 D3) gets erased in NY

  • Pair falls away from the daily cloud top, nears 0.7660 late in the day

  • Daily chart shows right shoulder of head and shoulder top forming

  • Completion of the pattern suggests AUD/USD could trade below the 200-DMA

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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