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Apr 25 - 03:55 PM

AUD/USD - Shorts Lose Some Traction But Still Hold The Reins

By Christopher Romano  —  Apr 25 - 01:50 PM
  • AUD/USD held a tight range in Europe, NY opened near 0.7155 & lifted

  • 0.7190 neared but US$, yen buying & equity, copper drops help stall gains

  • USD/CNH neared 6.6100 then slid after PBOC announce RRR cut nB9N2W4006

  • Yen buys sank AUD/JPY toward 91.10, AUD/USD hit 0.7135 then neared 0.7170

  • US$ sales, bounce in equities, copper help AUD/USD's late day bounce

  • Techs are bearish; RSIs are falling, pair below the daily cloud base

  • 76.4% Fib of 0.6968-0.7661 is immediate support, break targets Jan low

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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