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Aug 11 - 08:55 AM

AUD/USD - Pinned Near The Lows As Riskier Assets Are Shunned

By Christopher Romano  —  Aug 11 - 07:15 AM
  • AUD/USD hit a 3-session low but traded a tight 0.6510-0.653353 range

  • Higher UST yields US10YT=RR, USD/CNH rally to 7.2573 weighed on AUD/USD

  • Drops in equities ESv1, copper HGv1 helped to underpin the US dollar

  • AUD/USD opened NY near 0.6525, traded up +0.20% and above 0.6460/90 support

  • Daily RSI diverged on today's low which gives longs some hope

  • Hold below the 10-DMA, falling monthly RSI give shorts some encouragement

  • US July PPI, August University of Michigan are data risks in NY

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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