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Thomson Reuters
Jul 11 - 02:36 AM
AUD/USD - More Likely To Be Dragged Than Lead The USD Lower
First appeared on eFXplus on Jul 11 - 12:45 AM
  • USD in the driving seat as Asia responded to dovish Powell, AUD trades +0.2%
  • Bounce ends a four day sequence of lower daily highs, but familiar levels
  • Charts show momentum studies flat line, 5, 10 & 21 DMAs conflict
  • Neutral setup - 0.6914, 61.8% June/July rise and 0.7048 July high key levels
  • RBA is also dovish, so the AUD is unlikely to lead the USD short trade
  • Refinitiv RBAWATCH OIS have next 25pt RBA cut priced in November/December
  • Subdued outlook for global growth and US/China/EU trade turmoil to cap AUD

aud jul 11 Click here

Source:
Thomson Reuters IFR Research/Market Commentary

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