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Sep 08 - 08:55 AM

AUD/USD - China's Yuan, US Yields Temper The Bulls

By Christopher Romano  —  Sep 08 - 07:25 AM
  • AUD/USD hit 0.63675 in Asia then hit 0.6415 in Europe, NY opened near 0.6395

  • Lift aided by yen sales lifting AUD/JPY above 94.30 which dragged AUD/USD up

  • USD/CNH rally to 7.36212 (D3), US yield US2YT=RR bounce helped pair's dip

  • EquityESv1, iron-oreDCIOc2 drops also helped AUD/USD slip from its high

  • AUD/USD continues to hover around the 76.4% Fib of the 0.6170-0.7159 rally

  • Techs lean bearish; monthly RSI falling & pair holds below the 10- & 21-DMAs

  • Price action since Sept 5 low appears to be only corrective in nature

  • Fed's Barr, Daly & Fed's quarterly financial accounts may impact risk Friday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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