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Feb 16 - 08:55 AM

AUD/USD - Overnight Bounce Fades, Key Support Remains Vulnerable

By Christopher Romano  —  Feb 16 - 08:00 AM
  • AUD/USD pierced the 55-DMA, hit 0.6868 on Australia jobs data nL1N34W01R

  • Bounce ensued, US rates EDZ3, US$ softened while iron-ore DCIOc2 gained

  • AUD/USD pierced the 10-DMA, hit 0.6937 then slid, NY opened near 0.6910

  • US$ firmed & equities ESv1 traded lower both of which helped AUD/USD sink

  • Pair traded down -0.05% in early NY & a daily doji candle formed

  • Head & shoulders top forming on daily chart & monthly RSI is falling

  • Key 0.6855/70 zone vulnerable, if breaks 0.6600 are may be targeted

  • US Jan. PPI & housing, weekly claims and Fed's Bullard, Mester are risks

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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