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TDUX
Jul 31 - 03:55 PM

AUD/USD - Bulls Were Not Sleeping

By Christopher Romano  —  Jul 31 - 01:49 PM

• NY opened near 0.7030 after AUD/USD rallied to 0.7044 in overnight trading

• AUD/USD fell on USD, US yield gains & USD/CNH rally to 6.7550

• Drops in equities, gold, silver added weight; AUD/USD neared the 10-DMA, hit 0.6992

• Buyers emerged as USD selling took hold while stocks, gold, silver moved upward

• USD/CNH pull back from its high and gains for copper helped AUD/USD lift

• AUD/USD rallied and sat above 0.7035 late, it traded up +0.06% in NY's afternoon

• Daily bull hammer, rising RSIs, hold above 10- & 21-DMas are bullish tech signals
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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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