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Jul 20 - 01:55 PM

AUD/USD - Longs May Be Concerned With Signs That Emerged

By Christopher Romano  —  Jul 20 - 12:25 PM
  • AUD/USD hit a 16-session high of 0.69305 with help from equity ESv1 gains

  • Pair then fell below the 38.2% fib of 0.7282-0.6683 & turned slightly -ve

  • CopperHGv1 slip from high, iron-ore DCIOc2 drop help weigh down AUD/USD

  • US yield US10YT=RR bounce, USD/CNH rally above 6.7650 also help weigh

  • Daily RSI diverged, daily doji formed; could be warnings for AUD/USD longs

  • Doji may be a pause in the rally or a signal that a reversal lower is coming

  • ECB meeting & its impact on risk sentiment may determine AUD/USD's next move

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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