By Justin Mcqueen — Aug 21 - 05:50 AM
Adds chart
AUD rebound stalling ahead of July peak as 0.6750 holds
Given flip from oversold to near overbought, taking profit would be prudent
Dollar attempts modest recovery ahead of NFP revisions
Though, the bid in iron ore may shield AUD from dollar's move higher
Big focus remains on Powell's Jackson Hole speech
As noted previously, bar is high for Powell to exceed dovish expectations
Therefore, this may be the catalyst for the dollar to reverse recent losses
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary