By Christopher Romano — Nov 06 - 12:40 PM
AUD/USD hit a 3-mo high of 0.6523 then turned lower on the session
Pair fell back below the 38.2% Fib retracement of the 0.6895-0.6271 fall
Daily RSI diverged on the high & a daily inverted hammer candle formed
Recently established longs are likely concerned by signals on daily charts
Rising monthly RSI & AUD/USD hold above 55-DMA, cloud base comforts longs
RBA meeting due; market indicates a near 60% chance of a hike 0#RBAWATCH
No hike or a "dovish" hike may put bearish pressure on the Australian dollar
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary