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Oct 27 - 03:55 PM

AUD/USD - Bulls Pause But Will Likely Run Again

By Christopher Romano  —  Oct 27 - 01:40 PM
  • AUD/USD fell in Europe, NY opened near 0.6455, slide extended to 0.64275

  • Rally ensued after US data nL1N31R2Q5; US rates EDH3, US$ softened

  • Equities ESv1, commodities HGv1 lifted; USD/CNH fell below 7.2250

  • AUD/USD rallied toward 0.6505 then neared 0.6485 late in the session

  • Daily doji formed, daily RSI diverged, suggests a drop is due

  • Rising monthly RSI, monthly long legged doji implies rally to resume

  • Monthly techs likely to trump daily signals which means dip buying likely

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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