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Aug 03 - 08:55 AM

AUD/USD - Fresh Lows Made But Bears Pause Ahead Of US Data

By Christopher Romano  —  Aug 03 - 07:25 AM
  • AUD/USD rallied to 0.6555 in Asia, sellers emerges & pair turned negative

  • Rising US rates SRAZ3, equityESv1 & iron-oreDCIOc2 drops weighed

  • AUD/USD hit a 2-month low of 0.6514, NY opened near 0.6525, pair neared flat

  • USD/CNH drop from 7.2074 to below 7.1750 helped AUD/USD bounce above 0.6535

  • Daily doji candle formed, indicates pause in fall or reversal possible

  • May, June monthly lows in the 0.6559/86 zone are impediments for shorts

  • US weekly claims, Q2 labor costs, July ISM non-mfg PMI risks loom

  • Richmond Fed's Barkin comments at 8:30 am NY time may impact markets

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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