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Jul 27 - 05:55 PM

AUD/USD - Key Fibos Break As Bulls Charge During Powell's Presser

By Christopher Romano  —  Jul 27 - 03:10 PM
  • Equity ESv1, commodity DCIOc2 & US$, yen sales drove risk-on overnight

  • AUD/USD climbed in Europe, NY opened near 0.6945, rally extended to 0.69575

  • US$, yen buyers emerged; USD/CNH neared 6.7650, AUD/JPY fell toward 94.80

  • AUD/USD steadily dropped, hit 0.6914, sat near 0.6930 into the Fed statement

  • US$ softened after Fed hiked 75bps, noted some econ weakness nL1N2Z71DY

  • AUD/USD rallied just above 0.6945 before dipping slightly into the presser

  • Some dovish tips from Powell's presser nW1N2WO02D sink US$, US ratesEDZ2

  • AUD/USD pierced the 55-DMA, major Fibo retracements then traded 0.7000 late

  • Techs are bullish; RSIs rising, monthly bull hammer candle is in place

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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