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Aug 21 - 07:55 AM

AUD/USD - REFILE-BUZZ-AUD/USD Rally Stalling Ahead Of July Peak

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

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