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Feb 23 - 04:55 PM

AUD/USD - Longs Hope Signals Are Only A Pause In The Rally

By Christopher Romano  —  Feb 23 - 02:44 PM
  • AUD/USD rallies to 3-yr high (0.79345) then dives down a to 0.78805 low

  • Bounce ensues and the pair is near flat on the day, daily doji candle forms

  • Daily RSI diverges on the high; doji & RSI are concerns for AUD/USD longs

  • Signals could mean a correction lower or only a pause in the rally

  • Rising monthly RSI, monthly bullish outside candle imply rally to resume

  • AUD/USD longs likely staying the course for a test of 0.8135/65 resistance

  • For more click on FXBUZ





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Source:
Refinitiv IFR Research/Market Commentary

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