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Sep 10 - 08:55 AM

AUD/USD - Upbeat Risk Drives Threat To The Cloud Base

By Christopher Romano  —  Sep 10 - 07:26 AM
  • Equities ESv1, copperHGv1 rally sharply, yen sales rally AUD/JPY

  • US$ broadly lower, EM ccys up vs US$, USD/CNH drops below 6.4290

  • AUD/USD climbs in overnight trade, lifts above 10- & 55-DMAs

  • Rally stalls at 0.7408 which is where the daily cloud base sits

  • Daily, monthly RSIs are rising, suggests upward momentum is in place

  • Break above the cloud base puts 0.7470/80 resistance zone in play

  • Cleveland Fed's Mester speech as risk as is US Aug PPI USPPIE=ECI

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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