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Oct 26 - 08:55 AM

AUD/USD - Longs Should Be Encouraged By Price Action

By Christopher Romano  —  Oct 26 - 07:55 AM
  • Equities ESv1, copper HGV1, iron-ore DCIOc2 all lower on the day

  • AU-US 3-year yield spreads widen, US$ yield advantage increases again

  • USD/CNH puts in big gains, rallies near 6.7000 with no pull backs

  • AUD/USD rallies sharply away from Oct 23 low, 10-DMA though; nears 0.7150

  • Daily bull hammer forms despite risk-off sentiment, should concern shorts

  • 0.7165/95 is a big impediment for bulls to overcome though

  • Oct 14 high, daily cloud base, t-l off Sep 1 high 55-DMA sit in that zone

  • For more click on FXBUZ


aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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