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Aug 20 - 03:55 PM

AUD/USD - Shorts Hold The Advantage Into The Weekend

By Christopher Romano  —  Aug 20 - 01:59 PM
  • AUD/USD sinks to 0.71065 in overnight risk-off trade, NY opens near 0.7125

  • Risk improves; stocks ESv1, yields US10YT=RR turn +vs, copper rallies

  • Some USD/CNH gains erode & EM ccys bounce slightly, AUD/USD lift extends

  • Pair nears 0.7150 but stalls, pair dips below 0.7135 late in the day

  • Daily bull hammer, oversold daily RSI could be concerns for AUD/USD shorts

  • Monthly techs remain bearish though, suggests any rallies to be limited

  • Investors now await Jackson Hole event, Powell speaks at the event Aug 27

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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