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Nov 18 - 04:55 PM

AUD/USD - Downward Shift In US Yields Gives Longs A Boost

By Christopher Romano  —  Nov 18 - 01:40 PM
  • AUD/USD fell from the 0.6480 area then hit 0.64485, NY opened near that low

  • Pair held near the low initially, rally ensued as US$ selling took hold

  • Softening of US yields US2YT=RR, Us10YT=RR helped drive US$ downward

  • USD/CNH turned lower on the session, hit 7.2315, was down -0.16% late

  • Commodity XAU=, HGv1 & equity ESv1 gains reinforced US$ selling

  • AUD/USD turned positive then hit 0.65075, was up +0.60% late in the session

  • Rising daily RSI, daily bull hammer may be concerns for AUD/USD shorts

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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