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May 12 - 08:55 AM

AUD/USD - A Major Fibo Is In Focus As Risk-Off Persists

By Christopher Romano  —  May 12 - 07:15 AM
  • Investors concerns on inflation, slower global growth weigh down risk assets

  • Equities ESv1, copper HGv1 slides extend, safe-havens US$, yen rally

  • AUD/JPY falls below 88.30, hits a 1-1/2-month low before slightly bouncing

  • Global bond yields sink, Australian yields YTTc1 fall sharply

  • AUD/USD falls to a nearly 2-year low, hits 0.68605, NY opens near 0.6880

  • Techs are bearish; RSIs are falling, monthly inverted hammer candle in place

  • Shorts now target 50% Fib of the 0.5510-0.8007 rally which sits 0.6759

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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