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Oct 26 - 03:55 PM

AUD/USD - Longs Lose Traction, Consolidation Phase To Persist

By Christopher Romano  —  Oct 26 - 01:53 PM
  • AUD/USD buyers emerge at 0.7490 in Europe am, NY opens near 0.7510

  • Stock ESv1, copper HGv1 gains, sales of safe-haven US$, yen buoy AUD/USD

  • Pair rallies to 0.7525 but gains begin eroding as US$ & yen buyers emerge

  • Equity gains erode & copper turns negative, AUD/JPY falls toward 85.60

  • USD/CNH nears 6.3830 after nearing 6.3750 in overnight trading

  • AUD/USD nears 0.7490 before bouncing above 0.7500 late in the day

  • Daily inverted hammer forms but RSIs rise; consolidation phase is intact

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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