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Aug 26 - 02:55 AM

AUD/USD - Rally If Rejected Again Is A Bad Look For Bulls

By Ewen Chew  —  Aug 26 - 01:35 AM
  • AUD/USD rally snuffed out as Asia stocks flounder; ASX -0.5%

  • Likely 5th rejection by Bollinger uptrend channel entrance 0.7208

  • Another failed attempt to enter channel will dissuade bulls

  • Consolidation lower to downtrend channel at 0.7145 may follow

  • Most majors drift around before Powell's speech Thurs

  • Fed chair expected to downplay near-term inflation target

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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