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Sep 09 - 03:55 PM

AUD/USD - Cloud Base, Shift In Risk Keep Longs Corralled

By Christopher Romano  —  Sep 09 - 01:52 PM
  • AUD/USD rallies in Europe am, NY opens near 0.7370, rally extends

  • Equity, copper gains & falling USD/CNH help rally AUD/USD to 0.7394

  • The lift stalls just short of the daily cloud base, gains then fade

  • Safe-havens US$ & yen get bought as risk sours, AUD/JPY drops toward 80.80

  • Equity gains get erased, US rate complex softens, copper gives up some gains

  • AUD/USD sinks back below the 55- & 10-DMAs, nears 0.7370 late in the day

  • AUD/USD appears to be consolidating recent losses, is usually a bear signal

  • Long upper wick forming on Sep monthly candle, also a signal favoring bears

  • For more click on FXBUZ

audusd Click here

Refinitiv IFR Research/Market Commentary


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