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May 23 - 08:55 AM

AUD/USD - The Battle Near The 200-DMA Persists

By Christopher Romano  —  May 23 - 07:06 AM

• AUD/USD rallied 0.64085-0.6465 overnight, NY opened near that high, up +0.83%

• US yield drops sank US$ which lifted AUD/USD above the 200-DMA

• USD/CNH fell sharply, traded 7.2043-7.1742 and was down -0.34% in early NY

• Gold and copper gains helped give AUD/USD an added boost

• Rising monthly RSI, consolidation phase are bullish signals

• Pair's struggles above the 200-DMA, round top pattern likely concern longs

• Fed's Musalem, Schmid, Cook to speak Friday, may impact risk sentiment
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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