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Jul 30 - 08:55 AM

AUD/USD - Rally Is Intact But Correction Risk Grows

By Christopher Romano  —  Jul 30 - 08:10 AM
  • Risk sours a bit as Wednesday's Fed induced risk-on theme fades

  • Equities ESv1, copper HGv1 trade lower as investors take some profit

  • Risk-off drives broad based US$ & yen buys, AUD/JPY briefly dips below 75.00

  • USD/CNH pierces 7.0100 & many EM ccys trade lower against the US$

  • AUD/USD dips below 0.7130 before meager bounce, is near 0.7140 at NY open

  • Daily RSI turns from overbought territory, implies downside risks exists

  • Monthly techs are bullish, dips likely to be shallow & bought nL2N2F012Z

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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