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May 05 - 05:55 AM

AUD/USD - Monday's Close Is Key To The AUD/USD Bull Run

By Richard Pace  —  May 05 - 04:23 AM

• AUD/USD extends Fridays 0.6470 to new 2025 high at 0.6488 in Asia on Monday

• Another TWD spike boosts Asia currencies and ignites talk of revaluation

• AUD/USD above 200-dma at 0.6459, but close above to confirm bullish signal

• AUD/USD has already closed above 50% Fibo of 0.6943-0.5910, 61.8% is 0.6548

• Note huge 0.6550-60 option expiries Monday, but likely too far to draw FX

• Supports at Monday's low 0.6435, 10-dma 0.6405 and Friday's low 0.6382
AUD=D3


(Richard Pace is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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