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Jul 28 - 03:55 PM

AUD/USD - Fed Statement Cannot Drive A Range Break

By Christopher Romano  —  Jul 28 - 02:29 PM
  • Broad based US$ buying drive AUD/USD down in Europe am, NY opens near 0.7345

  • US$ persists as US yields, rates rise, AUD/USD hits 0.7324 before bouncing

  • USD/CNH slide extends below 6.4970, US$ buys halt, AUD/USD erode some losses

  • 0.7355 is neared before selling into Fed brings it towards 0.7345

  • US$, rates initially rally after Fed statement nL1N2P30V1, AUD/USD sinks

  • Pair hits 0.7317 but US$ selling emerges, AUD/USD rallies above 0.7350

  • Techs lean bearish; pair below 10 & 21-DMAs, daily & monthly RSIs falling

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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