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Oct 29 - 08:55 AM

AUD/USD - Investors Pause Ahead Of Key Impediments

By Christopher Romano  —  Oct 29 - 07:20 AM
  • AUD/USD rallies in Asia, hits 0.7555 but stalls near key impediments

  • Offers near 200-DMA, bull channel top, 50% Fib 0.8007-0.7107 cap gains

  • Pairs then sinks below 0.7540 as US$, US rate complex trade higher

  • Drops in equities ESv1, iron-ore DCIOc2 help add weight to AUD/USD

  • USD/CNH rally from the 6.3825 area toward 6.3950 aid AUD/USD shorts

  • Daily doji forms on AUD/USD daily chart, RSI turns from overbought area

  • Tech signals on daily chart suggest a correction in the rally is possible

  • Monthly techs remain bullish; rising RSI implies rally likely to resume

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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