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Thomson Reuters
Jul 11 - 03:48 AM
AUD/USD - Resilience Likely To Crumble, Open Up Downside
First appeared on eFXplus on Jul 11 - 02:25 AM
  • AUD/USD back towards day's lows as Shanghai stocks down 2.5% after lunch
  • Break & close below 10 DMA @ 0.7401 turns outlook bearish, seems inevitable
  • Slow stochs turn lower, s/t MAs mixed, no impediment to AUD losses
  • 61.8 Fibo of s/t rally at 0.7377 next target, break targets trend lows
  • Unlikely rally to find initial hourly resistance at 0.7429, rebound high Wed
  • China commerce min. says will have to respond to new US tariffs nB9N1TR01C

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