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Oct 22 - 07:24 AM
AUD/USD - If It Can't Go Higher Profit Taking Risk Increases
First appeared on eFXplus on Oct 22 - 05:15 AM
  • Technically the current AUD bull run is looking tired: 4.2% 14-day gain

  • Overbought indicators and struggle to overcome a daily cloud top cited

  • Daily ichimoku cloud top thwarting bulls at 0.6880: close above elusive

  • Strong fundamental support for AUD: AUD850m 0.6850 strike expiry noted too

  • Commodity ccys firm on China-U.S. talk hopes: weak U.S. data puts Fed cut on

  • RBA on the radar screen but possibly in watch and see mode

  • AUD/USD risks a return to the cloud base at 0.6818 before higher again



AUD/USD daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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