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Sep 12 - 08:55 AM

AUD/USD - US Dollar Recovery Helps Keep Techs Magnetic

By Christopher Romano  —  Sep 12 - 07:15 AM
  • AUD/USD hit 0.6440 overnight then traded 0.6415 ahead of NY's open

  • US yield gains US2YT=RR underpinned US$ buying which weighed on AUD/USD

  • USD/CNH rally to 7.3127, equity ESv1 & gold XAU= drops added weight

  • AUD/USD fell below the 10- & 21-DMAs, neared the 76.4% Fib 0.6170-0.7158

  • Pair traded down -0.018% in early NY which helped daily, monthly RSIs fall

  • AUD/USD is consolidating drop from 0.6900 while within 0.6355/0.6525 zone

  • US August CPI risk looms, may help to keep ranges tight until then

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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