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Jul 20 - 08:55 AM

AUD/USD - RBA, Yields, US Dollar Keep Bears In Control

By Christopher Romano  —  Jul 20 - 07:32 AM
  • RBA may have to reverse recent taper decision due to lockdowns nL4N2OW0XT

  • Global bond yield slide extends as delta variant spread might hinder growth

  • US$ bid against major currencies & most EM currencies persists today

  • AUD/USD's slide extends, hit a new 8-month low of 0.7311 in Europe's morning

  • Very little bounce, pair hovers just above session low as NY trading begins

  • Techs remain bearish; daily, monthly RSIs falling, daily is oversold though

  • Likely 0.7300 barrier an impediment, if breaks 0.7285/90, 0.7255/60 targeted

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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