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May 09 - 08:55 AM

AUD/USD - Fibo, Psychological Supports Break, Slide Likely To Extend

By Christopher Romano  —  May 09 - 07:25 AM
  • US yields US10YT=RR rally to a fresh 3-1/2-year high, buoys US$=USD

  • USD/CNH CNH= rallies to a fresh 1-1/2-year high, pierces 6.7760

  • Commodities HGv1DCIOc2 fall sharply as risk-off theme dominates

  • Equities ESv1 hit hard as investors seek out safer assets

  • AUD/USD falls below 38.2% Fib 0.5510-0.8007, psychological 0.7000 support

  • 0.6990 trades in early NY and techs imply the pair's slide should extend

  • Pair below 10-DMA, daily & monthly RSIs imply downside momentum remains

  • China, German, US April inflation data risks loom, all due on May 11

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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