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Jun 09 - 07:55 PM

AUD/USD - Poised To Correct Lower After Bearish Outside Day

By John Noonan  —  Jun 09 - 06:05 PM
  • AUD/USD opens 0.85% lower after completing a bearish outside day

  • Close below Monday's 0.6962 low after it hit 11-month high warning for longs

  • A close below the 10-day MA (0.6877) would suggest a top is in place

  • A close below the 10-day MA may see a correction towards 200-day MA @ 0.6665

  • Rally in equities and commodities appears stretched and ready to correct

  • Strains between China and Australia providing excuse for longs to pare back nL4N2DM1HZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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