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Feb 07 - 01:55 PM

AUD/USD - Bulls Cannot Hold Onto Gains

By Christopher Romano  —  Feb 07 - 01:15 PM
  • NY opened near 0.6525, pair rallied early, neared the overnight high

  • US yieldUS2YT=RR drop, equityESv1 gains & goldXAU= drop buoyed

  • Sellers emerged however; USD/CNH rallied to 7.2149 (D3), yields bounced

  • AUD/USD turned negative, hit 0.65175, traded down -0.04% late in the day

  • Daily techs warn longs; RSI diverged on the high, inverted hammer formed

  • Falling monthly RSI, hold below daily cloud, 10-DMA reinforce bear signs

  • China January PPI & CPI are data risks in Asia trading Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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