AUD/USD bulls step to push the curreny into the green ahead of key jobs data – by fx_ross AUDUSD DollarIndex Fed China RBA
is in the green by some 0.01%, after falling from a high of 0.7040 to mark a low of 0.6991 before recovering in midday US trade.
Additionally, the yield curve between 2-year and 10-year Treasury notes remained inverted at minus 38.60 basis points on Tuesday. This is viewed as an indicator of an impending recession. The dollar index DXY meanwhile hit a peak of 106.94 in early European trading, recovering from the losses that were made on the back of lower-than-expected US inflation data. The index was last seen flat at 106.46.
On the 15-min time frame, there are a few imbalances of price to the downside that could be mitigated prior to a test towards the resistance area. The neckline of the W-formation aligns with a price imbalance near 0.7012.
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