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TDUX
Aug 05 - 03:55 PM

AUD/USD - Bulls Eke Out Some Gains

By Christopher Romano  —  Aug 05 - 01:39 PM

• NY opened near 0.7045 after AUD/USD traded a tight 0.7040-0.7056 range overnight

• The pair rallied early on broad-based USD selling, gains in gold, silver, copper, equities

• 0.7065 traded, the pair then dipped as USD/CNH moved upward & stocks weakened

• US yield move lower helped to limit AUD/USD's pullback from the high

• The pair sat near 0.7055 late in the day, it traded up +0.10% as of this writing

• Techs lean bullish; RSIs are rising, pair is above 10-, 21-, 55- & 200-DMAs

• The August monthly long-legged doji candle reinforces the bullish tech signals
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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