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Aug 07 - 08:55 AM

AUD/USD - BoJ Rhetoric, Yen Sales Give Bulls Traction

By Christopher Romano  —  Aug 07 - 07:10 AM
  • AUD/USD traded 0.65105-0.6573 overnight, pair struck a 9-session high

  • NY opened near that hit, pair traded up +0.84% with help from yen sales

  • Comments from BoJ's Uchida drove JPY selling, rallied AUD/JPY above 97.00

  • Comments also buoyed risk assets; stocks ESv1, gold XAU= traded up

  • AUD/USD rallied despite drops in iron-ore DCIOc2 and copper HGv1

  • Pairs' rally stalled near the 50% Fibo of the 0.67985-0.63485 decline

  • Bullish technical signals suggest that Fibo may break however

  • Daily, monthly RSI rising, monthly bull hammer in place, pair above 10-DMA

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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