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Mar 07 - 01:55 PM

AUD/USD - US Yield, Dollar Recoveries Give Bears Traction

By Christopher Romano  —  Mar 07 - 01:24 PM

• NY opened near 0.6300 after 0.63378 traded overnight, drop extended early NY

• 0.62825 hit but pair lifted after US Feb. jobs data weighed down yields, US$

• 0.6316 traded, sellers emerged as yields, US$ firmed; USD/CNH neared 7.2570

• Commodity drops & rally in equities weighed on AUD/USD

• US$, yields firming intensified during Fed Chair Powell's remarks

• AUD/USD sat near 0.6295, traded down -0.61% in NY's afternoon

• Daily techs worry longs; RSI falling, pair below 21-DMA, 10-DMA was pierced
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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