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Thomson Reuters
Jul 10 - 03:48 AM
AUD/USD - Turns Lower As Risk Runs Out Of Steam
First appeared on eFXplus on Jul 10 - 02:15 AM
  • AUD/USD gives up morning gains as European trading gets underway
  • AUD/USD once again tops out at Mon's high of 0.7484, ahead of 50% and 55 DMA
  • Close above 55 DMA at 0.7500 needed for test of 61.8 Fibo at 0.7537
  • Setup still positive with bull s/t MAs cross, momentum studies headed higher
  • Only a close back below 10 DMA at 0.7394 turns picture negative
  • However global trade tensions should mean rallies remain capped nL1N1U600S

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