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Nov 09 - 01:55 PM

AUD/USD - Bulls Likely Look To Buy The Dips

By Christopher Romano  —  Nov 09 - 11:45 AM
  • Vaccine hopes drive investors into riskier plays & out of US$ & yen

  • AUD/USD rallies on the back on equity & commodity gains, hits 2-month high

  • Monthly, daily RSIs rise, imply bullish momentum is in place

  • Daily RSI near overbought though & inverted daily hammer forms

  • Daily signals imply pullback is possible, could be an opportunity for bulls

  • Buying dips is likely the preferred strategy after the recent sharp rally

  • Buyers likely near daily cloud top, 38.2% Fib 0.6990-0.7340 (0.7206/10)

  • For more click on FXBUZ




aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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