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Nov 12 - 01:55 PM

AUD/USD - Dip Buyers Emerge, Warning Signs Flash For Shorts

By Christopher Romano  —  Nov 12 - 12:08 PM
  • AUD/USD hit a fresh 1-month low in Asia, 0.7277 low hit but buyers emerge

  • US$ then sold as equities, iron-ore gain while US rates sink & risk rallies

  • AUD/USD rallies above the daily cloud, turns positive on the session

  • Daily technical signals emerge that suggest a decent bounce is possible

  • Daily RSI diverged on the new low, daily bull hammer candle formed

  • Daily cloud begins rising next week as well, should reinforce bounce risk

  • Monthly technicals remain bearish however, might help limit the bounce

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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