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Jan 31 - 03:55 PM

AUD/USD - Trump's Tariff Influences Drive Wild Price Swings

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
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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