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Aug 05 - 08:55 AM

AUD/USD - Dollar Dive, Yuan Gains Drive Threat To July's High

By Christopher Romano  —  Aug 05 - 07:35 AM
  • US$ =USD broadly lower today; USD/CNH CNH= trades below 6.9400

  • Equities ESv1, copper HGv1 & AUD/JPY rally, iron-ore DCIOc2 buoyed

  • AUD/USD rallies above 0.7220, lift stalls short of July monthly high

  • Very little pull back seen & US$ remains offered, break higher seems likely

  • Techs are bullish, 10-DMA supports, RSIs imply bullish momentum is intact

  • Break & hold above July's high likely drives a test of 0.7285/95 resistance

  • For more click on FXBUZ











aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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