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TDUX
Sep 10 - 03:55 PM

AUD/USD - Global Yield Rally Gives Bears Traction

By Christopher Romano  —  Sep 10 - 01:39 PM

• NY opened near 0.7200 after 0.7223 traded in Asia, slide extended in NY

• US dollar, US & global yields rallied sharply after US August PPI report

• Brent oil rally above $107.70, WTI rally above $102.55 aided those rallies

• Drops in gold, silver, copper, equities & USD/CNH gains reinforced USD buying

• AUD/USD fell to a 6-session low, neared the 21-DMA, traded down to 0.7157

• Small bounce saw 0.7170 neared late, AUD/USD was down -0.69% in NY's afternoon

• Monthly doji, falling daily RSI, drop below 10-DMA are concerns for bulls

• US August CPI in focus, an above estimate result could send AUD/USD lower
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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