By Christopher Romano — Jan 31 - 01:43 PM
• AUD/USD erased overnight gains, traded near flat in early NY
• Pair opened near 0.6215 then dipped down to 0.6210, buyers emerged
• US yields softened which lead to overall US$ selling
• USD/CNH slide, equity & gold gains reinforced US$ sales
• Rally intensified on Reuters report on latest Trump tariff possibilities
• 21-DMA was pierced, 10-DMA was neared, AUD/USD rallied to 0.6262
• White House then said Reuters report was false; US$ spiked higher
• AUD/USD dropped towards 0.6220, pair traded up +0.20% late in the day
• Techs are mixed; RSIs rising but monthly doji in place, pair below 10-DMA
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters