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Sep 30 - 03:55 PM

AUD/USD - Short Squeeze Extends As Bulls Lean On Upbeat Risk

By Christopher Romano  —  Sep 30 - 01:35 PM
  • Choppy moves in Europe's am, NY opens near 0.7115, rally ensues

  • Upbeat ADP, housing & Chicago PMI data boost risk sentiment

  • Equities, commodities rally while safe-havens US$ & yen are sold

  • AUD/JPY nears 75.70, drags AUD/USD above 10-DMA, 38.2 Fib of 0.7413-0.7006

  • AUD/USD nears 0.7175, very little pull back seen, near 0.7165 late

  • Daily RSI implies rally could extend but monthly techs are bearish

  • 55-DMA, 50% Fib 0.7413-0.7006, daily cloud top are resistance above market

  • For more click on FXBUZ




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Source:
Refinitiv IFR Research/Market Commentary

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