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Oct 23 - 03:48 PM
AUD/USD - Correction Deepens But Shorts Are Apprehensive
First appeared on eFXplus on Oct 23 - 01:25 PM
  • Slide from daily cloud top extends as AU yields trade lower nL2N2780FB

  • Pair lingers above 0.6820/30 support zone, bears are not being aggressive

  • US$ bounce from its recent slide is likely only a correction

  • Hopes for progress on trade issues & stock gains help limit AUD/USD losses

  • Monthly techs remain very bullish, suggest the rally should resume soon

  • AUD/USD longs need a break of 0.6895/0.6920 zone to take full control







chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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