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Aug 22 - 08:55 AM

AUD/USD - Despite Soured Risk Shorts Are Playing Defense

By Christopher Romano  —  Aug 22 - 07:25 AM
  • Risk-off takes hold as US$ rallies on back of yield US2YT=RR gains

  • Equities ESv1, copper HGv1, EM ccys sink; USD/CNH nears 6.8635

  • AUD/USD bucks risk-off impact, rallied toward the 55-DMA, hit 0.6929

  • Sharp Australia yield gains AU3YT=RR, iron-ore gains help buoy AUD/USD

  • Rally stalls short of the falling 55-DMA, pair nears 0.6905 at NY's open

  • Daily RSI rising but monthly falling, monthly inverted hammer in place

  • AUD/USD shorts likely need 61.8% Fib 0.6683-0.7136 break for fall to resume

  • Fed Jackson Hole symposium, Q2 core PCE are event, data risks this week

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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