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Aug 10 - 03:55 PM

AUD/USD - Bears Step Back Ahead Of Key CPI Data

By Christopher Romano  —  Aug 10 - 01:37 PM
  • AUD/USD lifts in Europe am, NY opens near 0.7340, rally extends slightly

  • Rise in US rates US10YT=RREDZ2 doesn't stop pair from nearing 0.7360

  • Gains in equities ESv1, copper HGv1 and AUD/JPY help buoy AUD/USD

  • AUD/USD pulls back slightly & nears 0.7345 late, holds most of session gains

  • Daily RSI diverges, daily bull hammer forms, are concerns for recent shorts

  • Falling monthly RSI, AUD/USD below 10- & 21-DMAs give some comfort though

  • US July CPI in focus, if above estimate US$ likely gains, AUD/USD may fall

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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