By Christopher Romano — Feb 18 - 07:42 AM
USD/CNH lifts above 6.4600 before dipping & stocks sink but AUD/USD rallies
Lower US 10-yr yield sinks US$ vs majors while copper, iron-ore rally
AUD/USD rallies away from 10-DMA, near session high (0.77825) in early NY
Rising daily, monthly RSIs & monthly bull hammer give techs a bull lean
Immediate resistance at Feb 16 daily high, Jan high is an impediment above
Break of Jan high likely to trigger stops, rally likely intensifies rally
Longer-term bulls then likely target key resistance in the 0.8135/65 zone
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Source:
Refinitiv IFR Research/Market Commentary