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Aug 10 - 03:55 PM

AUD/USD - Consolidating By 10-DMA, Backs Away From Recent Highs By 0.7240

By Paul Spirgel  —  Aug 10 - 01:50 PM
  • AUD/USD soft into NY close ending NorAm +0.03% at 0.7157

  • China CPI beat slows AUD descent, US-China political/trade risks stunt rise

  • Aussie fights it out at 10-DMA against China-U.S. backdrop nL1N2FC0JK

  • Probe below 10-DMA (0.7172) opens path for 210DMA at 0.7107

  • Below 200/100DMA by 0.6700 gives bears momentum for test of May lows by 0.64

  • Recent failures by 0.7240, gold off ATH's hint top may be in for AUD

  • Falling RSIs & monthly doji candle imply correction in the rally is due

  • For more click on FXBUZ

AUD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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