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Mar 27 - 08:55 AM

AUD/USD - Rally Off February's Low Is Hanging On By A Thread

By Christopher Romano  —  Mar 27 - 07:25 AM
  • AUD/USD hit 0.6539 in early Asia then hit 0.65115, NY opened near 0.6525

  • Drop from high aided by US$ buying, below estimate Feb. Australia CPI

  • Pair pierced the daily cloud base, up trend line off the Feb. 13 daily low

  • Sharp USD/JPY drop, softer US yields US2YT=RR helped AUD/USD bounce

  • USD/CNH slip from high, equity ESv1 & gold XAU= gains helped buoy

  • AUD/USD bounced above the t-l, cloud base; was down only -0.08% early NY

  • Daily bull hammer candle formed which may concern AUD/USD shorts

  • Monthly inverted hammer, hold below numerous daily MAs concerns longs

  • Fed's Waller speaks to Economic Club of NY reception at 18:00 EDT

  • US weekly claims, Feb. PCE risks loom for Thursday & Friday respectively

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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