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Jul 28 - 07:55 AM

AUD/USD - Commodities, Techs, Rates Keep Bear Pressure Intact

By Christopher Romano  —  Jul 28 - 07:25 AM
  • Copper HGv1 sinks while US rates EDZ2 gains buoy the US$

  • Above estimate AU Q2 CPI nL1N2P404A drives brief rally overnight

  • AUD/USD briefly pierces the 10-DMA, trades 0.7375 but gains erode

  • Broad based US$ =USD buying ahead of the Fed weighs down AUD/USD

  • Pair sinks to 0.7339 in early NY despite USD/CNH fall near 6.5025

  • AUD/USD techs lean bearish; RSIs falling & 10-DMA helps cap gains

  • If Fed deemed less dovish US$, rates should rally & AUD/USD fall further

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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