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Jan 24 - 01:55 PM

AUD/USD - Bulls Find It's Hard To Maintain Upward Momentum

By Christopher Romano  —  Jan 24 - 01:15 PM
  • NY opened near 0.6600 after 0.6566 traded overnight, rally extended

  • US$ slid early as risk-on reigned; USD/CNH fell to 7.1415 on D3

  • Equity ESv1, commodity DCIOc2 gains reinforced bid for risky assets

  • AUD/USD rallied above the 10-DMA, hit 0.6621 then sellers emerged

  • US yields US2YT=RR rallied on upbeat U.S. Jan. S&P Global PMI

  • AUD/USD neared 0.6590 then bounced a bit, traded up +0.25% late

  • Techs lean bearish; monthly RSI falling, pair below 10- & 55-DMAs

  • US Q4 GDP, weekly claims, Dec. new home sales are data risks Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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