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TDUX
Aug 04 - 03:55 PM

AUD/USD - Risk-On Gives Bulls The Advantage

By Christopher Romano  —  Aug 04 - 01:36 PM

• NY opened near 0.7030 after 0.6997 traded overnight, rally extended in NY

• USD, US yield , USD/CNH drops helped drive AUD/USD upward

• Fresh all-time highs in equities & gains in gold, silver, copper aided the lift

• AUD/USD hit 0.7042, the pair traded nearby late, it was up +0.56% late in the day

• The pair's hold above the 10-, 21- 55- and 200-DMAs are bullish tech signals

• Rising daily, monthly RSIs, August's long legged doji add to bullish sentiment
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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