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Jul 21 - 08:55 AM

AUD/USD - Bears March Ahead But Squeeze Risk Grows

By Christopher Romano  —  Jul 21 - 07:20 AM
  • Overnight US$ buys help AUD/USD fall to new a 8-month low of 0.72895

  • Drop in iron-ore, copper, rise in US interest rates help sink AUD/USD

  • Bounce ensues on USD/CNH drop near 6.4700, AUD/JPY rally near 80.70

  • AUD/USD nears 0.7320 into NY open but still remains down on the session

  • Daily bull hammer forms and daily RSI is in oversold territory

  • Daily techs suggest the risk of a corrective bounce is emerging

  • Monthly techs remain bearish though, AUD/USD rallies likely to be sold

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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