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Jun 18 - 08:55 AM

AUD/USD - The Trend Extends Into The Weekend

By Christopher Romano  —  Jun 18 - 07:36 AM
  • Brief overnight lift meet sellers in the 0.7560/65 area, slide ensues

  • Sinking equities ESv1, rising US$ trump bounce in copper, iron-ore

  • Soured risk leads to buys of safe-haven yen, US$, AUD/JPY nears 82.75

  • AUD/USD falls below the 200-DMA, breaks April's low, hits a 6-month low

  • Pair hits 0.7511, defense for likely 0.7500 barrier options stems slide

  • Daily, monthly RSIs imply downside momentum remains though, lower levels due

  • Stops likely below 0.7500, if run Dec 21 daily low (0.7463) is targeted

  • 0.7400/05, 0.7340/50 are supports thereafter should the Dec 21 low break

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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