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Oct 12 - 03:55 PM

AUD/USD - Longs Lose Traction And Slip Below The Cloud Top

By Christopher Romano  —  Oct 12 - 01:49 PM
  • Upbeat risk, yen sales lifting AUD/JPY help rally AUD/USD in Europe

  • Pair pierces 0.7380 into NY's open, rally extends slightly, 0.7384 hit

  • US$ buyers emerge, USD/CNH lifts above 4.4560, AUD/USD begins sliding

  • Equity ESv1 gains get erased, some copper HGv1 gains erode

  • AUD/USD nears 0.7345 then bounces toward 0.7365, pair then nears 0.7350 late

  • Techs lean bullish; RSIs rise, 10-DMA above 21-DMA, pair above 55-DMA

  • Daily inverted hammer candle is a bit of a concern for longs however

  • For more click on FXBUZ



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Source:
Refinitiv IFR Research/Market Commentary

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