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Derived real-time data in partnership with:
Thomson Reuters
May 08 - 02:36 PM
AUD/USD - Bear Sentiment Elevated Again
First appeared on eFXplus on May 08 - 10:30 AM
  • Below f/c AU retail sales, firms US$ and commodity slump weigh on AUD/USD
  • Pair sets new low after break the key 50 Fib (0.7482) of the 2016-18 rally
  • Further losses likely, RSIs slide & little support until the May 2017 low
  • US CPI is the next driver, if above f/c US$ & UST yields likely rally
  • AUD/USD's slide then likely intensifies, May 2017 low likely easily reached
  • Longer-term bears likely target key 0.7110/60 support zone

chart: Click here

Source:
Thomson Reuters IFR Markets

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