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Aug 11 - 08:55 AM

AUD/USD - Dip Buying Is The Theme

By Christopher Romano  —  Aug 11 - 07:25 AM
  • AUD/USD fell toward old resistance turned into support in overnight trade

  • Pair hit 0.7063, buyer then emerged & pair rallied to match the Aug 10 high

  • Lift aided by equity ESv1, commodity HGv1 gains, US yield US2YT=RR dip

  • A daily bull hammer formed after pair rallied away from the old resistance

  • Rising daily, monthly RSIs & monthly bull hammer reinforce bull tech signs

  • June 10 high, 76.4% Fib 0.7282-0.6683, 200-DMA are nearby targets for longs

  • US weekly, continuing claims and July PPI are key data risks in NY

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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