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Aug 23 - 08:55 AM

AUD/USD - Fibo Repels Shorts But May Remain Vulnerable

By Christopher Romano  —  Aug 23 - 07:30 AM
  • AUD/USD fell to 1-month low in Europe, 0.6856 hit then bounce ensued

  • Sinking PMIs nZRN004ZS9nL1N2ZZ0EQ stoke slower growth concerns

  • Bids into the 61.8% Fib of 0.6683-0.7136 helped to stall the slide

  • Lift aided by stockESv1, yieldYTTc1 commodityDCIOc2 gains

  • AUD/USD rallied toward 0.6900 but then dipped, NY opens near 0.9930

  • Fibo still likely vulnerable as down trend shows no signs of abating

  • Monthly inverted hammer, falling monthly RSI are bearish tech signals

  • AUD/USD consolidating fall from Aug 11 high, reinforces bear tech signals

  • US Aug S&P PMIs, Fed's Kashkari are data, event risks in NY

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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