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Jul 10 - 02:36 AM
AUD/USD - Downbeat Local Sentiment, But USD Leads Next Move
First appeared on eFXplus on Jul 10 - 12:45 AM
  • Off 0.1%, extending yesterday's 0.65% loss and off 0.8% this week
  • USD likely to lead next move on UST yield response to Powell testimony
  • Gov't assurances that economy is doing well and RBA cuts have little impact
  • Consumer sentiment fell to -4.1% in July - a 2 year low nL4N24B074
  • Dip leaves a negative setup; momentum studies, 5, 10 & 21 DMAs head south
  • Support starts at under pressure 0.6914, 61.8% of the June/July rise
  • Break would initially target 0.6883 76.4% retracement

aud jul 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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