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Sep 13 - 08:55 AM

AUD/USD - Dip Buying Persists, Key Fibo Threatened Ahead Of US CPI

By Christopher Romano  —  Sep 13 - 07:15 AM
  • AUD/USD fell below the 21-DMA overnight, 0.6863 hit then a rally ensued

  • Lower US rates EDH3, US2YT=RR drives broad based US$ selling

  • Equity ESv1, commodity DCIOc2HGv1 gains bolster risk-on theme

  • AUD/USD climbed above the 55-DMA; USD/CNH drop from high helps rally extend

  • Daily cloud base was pierced, pair then hit a 10-session high of 0.6915

  • Rally stalls near 50% Fibo of 0.7136-0.6699 but little pull back is seen

  • Rising daily, monthly RSIs, daily & monthly bull hammers are bullish signals

  • US CPI & its possible impact on Fed policy is the key risk for markets today

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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