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Jun 23 - 08:55 AM

AUD/USD - Growth Concerns Keep May's Low In Focus

By Christopher Romano  —  Jun 23 - 07:25 AM
  • Australia June PMI drops nZRN004KD8, downside surprise EZ PMI nZRN004KE5

  • Investors concerned global growth is slowing as central bank hike rates

  • Copper HGv1, iron-oreDCIOc2 drops extend as growth fears persist

  • EM ccys & A$ fall; AUD/USD fell to 0.68695 in Europe, NY opens near 0.6895

  • Deeper fall likely prevented by stock ESv1 gains, USD/CNH fall near 6.7000

  • Techs lean bearish; RSIs are falling, 10-DMA exerting bearish influences

  • May monthly low vulnerable, stops likely below, if triggered 0.6800 eyed

  • 50% Fibo of the 0.5510-0.8007 rally at 0.6759 is targeted thereafter

  • US weekly, continuing claims data, Fed's Powell testimony are risks in NY

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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