By Christopher Romano — Feb 28 - 11:40 AM
AUD/USD fell overnight, traded to 0.6704 when buyers emerged
Equity ESv1 gains, softer US rates EDZ3 helped drive risk-on
US$ sold broadly as investors seek our riskier assets
AUD/USD turned positive, rallied to 0.6757 into Europe's close
Daily bull hammer formed & daily RSI is rising again
AUD/USD bulls are leaning against psychological 0.6700 level
Daily techs imply test of 200-DMA, 0.6800/25 zone is likely
Monthly techs remain bearish however, rally may be sold
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Source:
Refinitiv IFR Research/Market Commentary