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Jun 13 - 11:55 PM

AUD/USD - Moves Higher As E-Minis Move Up And Shorts Pare Back

By John Noonan  —  Jun 13 - 10:55 PM
  • AUD/USD is up 0.3% in early Asia to correct over-sold conditions

  • RSI and Slow stochastic readings on AUD/USD extremely over-sold

  • E-minis are up 0.50% to encourage come AUD/USD short-covering

  • USD a touch softer after big gains due to hawkish shift in Fed expectations nL4N2Y1090

  • AUD/USD resistance at former support around 0.7000 where sellers tipped

  • Fundamental picture for AUD/USD bleak with equities and metals looking weak

  • Recession fears in major economies rising and limiting AUD gains

  • Objective of current move is the 2022 low at 0.6829

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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