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Thomson Reuters
Jul 30 - 02:36 PM
AUD/USD - Priming For A Downside Move
First appeared on eFXplus on Jul 30 - 01:15 PM
  • 10 & 21-DMAs act magnetically, help keep broad 0.7300/0.7500 range intact
  • Consolidation of l-t fall persist & daily RSI oversold unwind near complete
  • Recent US$ weakness no benefit to pair as yield spreads favor the greenback
  • Equity market slide and copper near lows helps anchor pair near recent lows
  • China July NBS and Caixin PMIs are risks this week
  • If China data is below f/c AUD/USD could trade toward low end of range

chart: Click here

Thomson Reuters IFR Markets


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