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Aug 23 - 08:55 AM

AUD/USD - Change In Fortunes Could Trigger A Bigger Squeeze

By Peter Stoneham  —  Aug 23 - 06:37 AM
  • AUD rallies 0.5%, leaving Friday's significant 0.7107 low behind

  • Bullish signal Friday, hammer candle, set to be confirmed today

  • As the market stands AUD/USD set for another bullish signal today

  • A bullish engulfing candle: can warn of a reversal but needs confirmation

  • AUD target at 0.7229, 38.2% Fibo off recent 0.7426 to 0.7107 drop

  • Broader market adjusting to the idea that Fed taper might disappoint

  • Powell speech at Jackson Hole awaited for clues on timing of taper

  • AUD upside likely capped as Sydney new virus cases hover near record lvls

    For more click on FXBUZ







AUD/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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