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Nov 08 - 01:55 PM

AUD/USD - Rally Sellers Have Techs Warning Longs

By Christopher Romano  —  Nov 08 - 12:40 PM
  • AUD/USD rallied to 0.64495 Wednesday then sellers emerged, pair turned lower

  • 0.6407 hit in NY morning, slide stopped near 10- & 55-DMAs, daily cloud base

  • Pair remained down -0.31% after Europe's close and techs leaned bearish

  • Daily RSI is falling & monthly inverted hammer candle is forming

  • Monthly RSI & hold above 10-, 21-, 55-DMAs & cloud base gives longs comfort

  • Break below 0.6390/0.6405 zone may trigger stops, bring Oct. low into focus

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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