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Jul 12 - 08:55 AM

AUD/USD - Risk Shift, 10-DMA Give Bears The Advantage

By Christopher Romano  —  Jul 12 - 07:37 AM
  • Equities ESv1, copper HGv1 down while US$ & yen are buoyed

  • Recent USD/CNH selling abates; AU YTTc1 & US EDZ2 rates are lower

  • Risk sours are bit on Monday, helps drive AUD/USD lower on the session

  • Pair falls away from the 10-DMA, much of Friday's rally gets erased

  • Daily, monthly RSIs are falling, implies downside momentum is in place

  • Monthly inverted hammer candle bolsters the bearish technical sentiment

  • 0.7405/20 support remains threatened, if breaks December low targeted

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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