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Oct 24 - 01:55 PM

AUD/USD - Longs Struggle To Maintain Gains

By Christopher Romano  —  Oct 24 - 01:20 PM
  • NY opened near 0.6355 after AUD/USD hit 0.6378 overnight, slide extended

  • US yield US2YT=RR, US$ bounced weighed on the pair, 0.6344 was hit in NY

  • Upbeat October S&P Global PMI helped lift US yields and US$

  • Iron-oreDCIOc2, USD/CNH rally & erosion of equityESv1 gains also weighed

  • AUD/USD slid below the 21-DMA but help above the 10-DMA, was up +0.26% late

  • Techs mixed; daily RSI rising & monthly falling; day inverted hammer formed

  • Australia Q3 CPI, RBA trimmed mean CPI are key risks in Asia trading hours

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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