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Aug 18 - 08:55 AM

AUD/USD - US$ Bulls Remain On The Defensive

By Christopher Romano  —  Aug 18 - 08:00 AM
  • U.S. rates are trading lower while fed funds futures FFZ1 rally

  • Equities ESv1, copper HGv1 rallies extend; iron-ore DCIOc2 bounces

  • Safe-haven US$ =USD hits 27-month low as riskier assets are sought

  • AUD/USD trades to 7-day high, rally stalls just short of the Aug 7 high

  • Pair holds above 10- & 21-DMAs, RSIs are rising; techs remain bullish

  • 0.7245/50 is an impediment, stops likely above, if run 0.7285/95 targeted

  • Break above 0.7285/95 will likely drive a test of 0.7395/0.7400

  • For more click on FXBUZ











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Source:
Refinitiv IFR Research/Market Commentary

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