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Mar 22 - 01:55 PM

AUD/USD - Shorts Get Hammered By The Cloud

By Christopher Romano  —  Mar 22 - 12:25 PM
  • Turkey central bank news sparks risk-off in Asia, AUD/USD gaps down on open

  • Pair falls to 0.7689 but stalls, bids into the daily cloud top emerge

  • Improved risk sentiment drives stocks up & US$ lower, AUD/USD rallies

  • AUD/USD rallies, fills gap from Friday's close, climbs above the 55-DMA

  • Pair touches the 10-DMA before slight dip but remains +ve on the session

  • A daily bull hammer candle forms which could be a warning to recent shorts

  • Close above March 19 high, 21-DMA likely to squeeze recent shorts

  • Bulls then target structural resistance in the 0.7845/55 zone

  • For more click on FXBUZ



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Source:
Refinitiv IFR Research/Market Commentary

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