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Aug 24 - 01:55 PM

AUD/USD - Rally Sellers Are Likely To Get Their Chance

By Christopher Romano  —  Aug 24 - 11:49 AM
  • Risk-on drives AUD/USD's short squeeze further, 5-session high set

  • Rallies in equities ESv1, copper HGv1 & USD/CNH drop help lift AUD/USD

  • 10-DMA gets pierced, rising daily RSI implies upward momentum short-term

  • Monthly RSI is falling however and 0.7315/45 resistance zone is nearing

  • AUD/USD rally sellers likely lurk in that zone, possibly target 0.7100 area

  • Fed's Jackson Hole event a key risk, if deemed dovish AUD/USD likely rallies

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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