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Feb 09 - 08:55 AM

AUD/USD - RBA Rhetoric Gives Longs A Boost But Downside Risks Remain

By Christopher Romano  —  Feb 09 - 07:25 AM
  • AUD/USD fell to 0.64875 in Asia then rallied, 0.6513 hit in Europe a.m.

  • NY opened just below the overnight high, pair traded up +0.28%

  • RBA's Bullock inflation warning helped buoy AUD & AU yields AU3YT=RR

  • Iron-ore DCIOc2, equity ESv1 gains also added to AUD/USD buoyancy

  • Pair rallied despite USD/CNH rally to 7.2184 (D3), US yield US2YT=RR gains

  • Techs lean bearish; pair below 10- & 21-DMAs, monthly RSI is falling

  • Bounce off the Feb. 5 daily low appears corrective in nature

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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