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Jul 01 - 08:55 AM

AUD/USD - Growth Concerns Help Drive Threat To A Major Fibo

By Christopher Romano  —  Jul 01 - 07:25 AM
  • China June Caixin PMI 51.7 nZUN0054F6, fastest mfg activity in 13-months

  • Despite the data investors remain worried about slower global growth

  • Yields AU3YT=RRUS10YT=RR, equities ESv1, commodities HGv1 drop

  • Safe-havens US$, yen bought; AUD/JPY near 91.75, USD/CNH near 6.7100

  • AUD/USD falls away from the 10-DMA, hits a 2-year low of 0.67905

  • Techs are bearish; daily, monthly RSIs falling, 10-DMA weighs

  • AUD/USD shorts now target the 50% Fib of the 0.5510-0.8007 rally

  • US June ISM manufacturing PMI USPMI=ECI is a data risk in NY

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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