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Feb 21 - 01:55 AM

AUD/USD - Drops Below 50 DMA As Fibo Resistance Deters Longs

By Ewen Chew  —  Feb 21 - 01:15 AM
  • AUD/USD retreats to 0.6890, deterred by 23.6% Fibo at 0.6925

  • Slips under 50 DMA support 0.6892; chart turning bearish

  • Tues close below that also engages Bollinger downtrend channel

  • That will sway AUD/USD toward Ichimoku cloud support 0.6847

  • RBA's hawkish tone at last meeting insufficient to buoy AUD

  • Risk-off spreads through Asia as China stocks reverse gains

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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