US TSYS: 10Y Yld Back Over 5%, Tsys Just Above Post FOMC Lows Late Friday

US conducting stealth operation to transport oil through Hormuz

• The US military has quietly established a shipping corridor in and out of the Strait of Hormuz to transport millions of barrels of oil each day — a notable success even as the broader war remains at a stalemate, two US officials told Axios.
• Under the operation, which has been underway for the last several weeks, 15 to 20 tankers have entered and exited the strait through a southern channel along the coast of Oman.
• About 10 mbpd, roughly half the pre-war volume, are being transported out of the strait and injected into the global energy market, the officials said.

• RES 4: 0.7278 High May 6 and key resistance 
• RES 3: 0.7201 High May 29
• RES 2: 0.7181 76.4% retracement of the May 6 - Jun 30 bear leg 
• RES 1: 0.7129/49 High Aug 17 & 19 / High Jun 4 
• PRICE: 0.7122 @ 16:29 BST Aug 19
• SUP 1: 0.7027/0.6922 50-day EMA / Low Jul 29 
• SUP 2: 0.6907 Low Jul 8
• SUP 3: 0.6865 Low Jun 30 and the bear trigger 
• SUP 4: 0.6757 38.2% retracement of the Apr 9 ‘25 - May 6 bull cycle

A bull cycle in AUDUSD remains intact for now and short-term pullbacks are considered corrective. Price continues to trade above the 50-day EMA, at 0.7027, and Monday’s gains delivered a print above 0.7120, the 61.8% of the May 6 - Jun 30 bear leg. This reinforces the current bull theme and a continuation higher would pave the way for an extension towards 0.7181, the 76.4% retracement point. Support at the 50-day EMA lies at 0.7027.          

*US CONDUCTING OPERATION TO TRANSPORT OIL THROUGH HORMUZ: AXIOS