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Mar 05 - 03:55 PM

AUD/USD - Bears Not So Confident After Fibo Break

By Christopher Romano  —  Mar 05 - 01:49 PM
  • US$ bid =USD, weak EM ccys in overnight trade help sink AUD/USD

  • 0.7653 trades before bounce near 0.7675 ahead of US Feb jobs data

  • Upbeat data nL2N2L23EI sends 10-yr yield higher, eurodollar prices lower

  • 10-yr US10YT=RR hits 1.625%, AUD/USD spikes lower, hits 0.7624 low

  • Stock, copper drops reverse though, 10-yr yield sinks, USD buying abates

  • AUD/USD rallies back above the 76.4% Fib 0.7564-0.8007 & daily cloud top

  • Pair holds near the cloud top but remains lower in the session

  • Daily bull hammer forms though, could be a warning to AUD/USD shorts

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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