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Mar 04 - 04:55 PM

AUD/USD - Early Gains Fade But Longs Aren't Panicked

By Christopher Romano  —  Mar 04 - 01:36 PM

• 0.6243 traded in early NY after 0.6187 was hit in overnight trading

• Pair slid early on firmer US yields , US$; USD/CNH neared 7.2785

• 0.6195 was neared but buyers emerged, pair neared 0.6220 late, down -0.06%

• Equity & AUD/JPY lifts, gold gains helped AUD/USD bounce

• AUD/USD formed a daily doji candle which implies investors are indecisive

• Pair's hold below daily cloud, slew of daily MAs are bearish signs

• Rising monthly RSI, rally following Feb. doji are bullish signs

• US Feb. ADP, ISM non-mfg PMI & Jan. factory orders are risks Wed.
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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