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Aug 02 - 07:55 AM

AUD/USD - Struggles With A Plethora Of Bearish Tech Signals

By Richard Pace  —  Aug 02 - 05:55 AM
  • AUD/USD weighed by RBA, higher US yeilds and global growth concerns

  • AUD/USD already closed below key 200/100 day ma's 0.6732/0.6693 recently

  • AUD/USD has now also broken 29/02 June lows at 0.6595/72 for 0.6566 Wed

  • 0.6595 was key support (weekly lows) should see more selling on close below

  • Trendline support is around 0.6538, below opens 31 May and 2023 low 0.6459

  • Recovery/close back above 0.6595 may help to avert more losses

  • FX options have been covering short positions around 0.6500

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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