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May 24 - 03:55 PM

AUD/USD - US Dollar Bulls Take A Breather Into The Weekend

By Christopher Romano  —  May 24 - 12:45 PM
  • NY opened near 0.6615 after an 8-session low of 0.6592 traded in Asia

  • After an initial dip the overnight rally extended on risk-on markets

  • Softer US yields US10YT=RR weighed on US$; stocks & gold rallied

  • AUD/USD rallied above 0.6635, pair traded up +0.45% inNY's afternoon

  • Daily RSI diverged, daily bull hammer formed; may worry AUD/USD shorts

  • Australia April CPI, US weekly claims & April PCE are key risks next week

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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