AUD/USD: a concern with key failures - Scotiabank

FXStreet (Guatemala) - AUD/USD is exhibiting a considerable vulnerability to broader market sentiment with a specific focus on China as market participants assess the path for growth and potential for further stimulus, as noted by Eric Theoret, CFA, CMT FX Strategist at Scotiabank.

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Key Quotes:

"Near term risk for AUD lies with domestic employment at 8:30pm EST"

"AUD is vulnerable, both fundamentally and technically, as we consider the recent completion of a bearish three-candle ‘evening star’ formation between Friday and Tuesday."

"The recent rally’s failure at (and subsequent retreat from) the 100 day MA (0.7360) provides for added concern."