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Aug 26 - 01:55 PM

AUD/USD - Some Encouraging Signs Are Emerging For Longs

By Christopher Romano  —  Aug 26 - 11:43 AM
  • Risk sours slightly Thursday, stocks, commodities & AUD/JPY trade down

  • Despite soured risk sentiment there are some bullish signs for AUD/USD

  • Pair is consolidating its recent rally from the August 20 daily low

  • Consolidation taking place near the 10-DMA, 50% Fib of 0.74265-0.71065

  • A long lower wick is in place on the August monthly candle

  • Fed Chair Powell speak Friday and is likely to determine the next move

  • A dovish-leaning Powell is likely to see AUD/USD's rally resume

  • Tests of the August 4 high, 55-DMA, daily cloud base then possible

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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