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Aug 03 - 04:55 PM

AUD/USD - Risk Shifts Drive Bears And Bulls

By Christopher Romano  —  Aug 03 - 01:55 PM
  • Pair trade tight range in Europe am after gain in Asia, NY opens near 0.7395

  • AUD/USD falls in early NY as stocks, copper & global bond yields slide

  • Safe-have US$ & yen buys weigh down AUD/USD as does USD/CNH lift near 6.4395

  • AUD/USD briefly turns negative on the session as it trades 0.73615

  • Risk-on ensues, equities turn positive while copper bounce off its low

  • AUD/USD rallies and nears 0.7395, pair dips toward 0.7385 late in the day

  • Techs lean bearish, pair below the 21-DMA & bear flag forming on daily chart

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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