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Jul 20 - 05:55 PM

AUD/USD - Rally Sellers Might Get Their Chance

By Christopher Romano  —  Jul 20 - 03:55 PM
  • AUD/USD trades to a new 8-month low of 0.7300 before bouncing sharply

  • Pair still down on the session but a daily bull hammer candle forms

  • Daily RSI is now oversold; RSI, hammer imply risk of a corrective bounce

  • Monthly inverted hammer, falling monthly RSI suggest slide will resume

  • Possible chance for rally sellers if daily techs unwind oversold conditions

  • Rally sellers likely lurking in the 0.7400/50 area for now

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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