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Oct 13 - 03:55 PM

AUD/USD - Bulls Defend Old Resistance Turned Into Support

By Christopher Romano  —  Oct 13 - 02:11 PM
  • AUD/USD rallies overnight on US$ sales, NY opens near 0.7355

  • US Sep CPI headline comes in above estimates; US rates, US$ rally

  • AUD/USD falls sharply, nears the daily cloud base, hits 0.7324

  • Buyers emerge on US 10-yr yield US10YT=RR slides, ED price EDU2 bounce

  • AUD/USD climbs back above the 61.8% Fib of 0.7477-0.7171 & daily cloud top

  • Pair's rise aided by gains in EM ccys, & USD/CNH dip below 6.4250

  • AUD/USD techs are bullish; daily & monthly RSI rise, daily bull hammer forms

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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