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Aug 10 - 08:55 AM

AUD/USD - Traction Lost After 14-Session Low Set

By Christopher Romano  —  Aug 10 - 07:21 AM
  • US$ buying, rise in US rates, iron-ore slide weigh on AUD/USD overnight

  • Pair hits a 14-session low of 0.7316 but buyers emerge, rally ensues

  • US 10-yr yield gains erode, Dec 2022 EDEDZ2 rallies & US$ buying abates

  • AUD/JPY rallies near 81.15, USD/CNH turns negative, AUD/USD hits 0.73435

  • Daily RSI diverges, daily bull hammer forms; concerning for AUD/USD shorts

  • Monthly techs are bearish, pair below 10 & 21-DMAs; bounce may be limited

  • US July CPI data due Wed., if above estimate AUD/USD slide could resume

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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