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Sep 15 - 01:55 PM

AUD/USD - Rally Sellers Emerge; Bearish Techs Reinforced

By Christopher Romano  —  Sep 15 - 12:35 PM
  • AUD/USD rallied to 0.6771, lift stalled just short of the 10-DMA

  • A reversal ensued as US rate rises persist, USD/CNH broke 7.000

  • AUD/USD turned negative & broke the Sept. 14 daily low, 0.67025 hit

  • Daily RSI diverged & falling again, daily inverted hammer formed

  • Daily techs reinforce the already bearish monthly tech signals

  • July's monthly low is key support; break will negate that bull hammer

  • Stops likely trigger on a break and June 2020 monthly low test is likely

  • Break of that low targets 61.8% Fib 0.5510-0.8007, May 2020 monthly low

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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