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Feb 12 - 01:55 PM

AUD/USD - Early Drop Erased With Help From Boost In Risk Assets

By Christopher Romano  —  Feb 12 - 01:20 PM
  • AUD/USD opened NY near 0.6525, pair fell early, near 0.6515 on firm US$

  • Riskier assets rallied however as US yields US2YT=RR, US$ softened

  • USD/CNH fell to 7.2133 (D3), AUD/JPY neared 97.65, stocks ESv1 rallied

  • AUD/USD turned positive, rallied above 10-DMA, hit 0.6543, a 6 session high

  • Techs are mixed; monthly RSI falling & pair below the 21- & 200-DMAs

  • Rising daily RSI, February's monthly doji candle give longs some comfort

  • US Jan. CPI & its impact on Fed policy is a major risk for Tuesday

  • An upside surprise may drive big U$ gains, send AUD/USD to new lows

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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