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May 22 - 08:55 AM

AUD/USD - Down For Now But Bulls May Reign In The End

By Christopher Romano  —  May 22 - 07:15 AM
  • AUD/USD hit 0.66855 in Asia, sellers then emerged and 0.6654 hit in Europe

  • NY opened near 0.6665, pair traded down -0.04% in early NY trading

  • Pair's drop aided by US yield US2YT=RR gains driving US$ buying

  • Equity ESv1 and gold XAU= drops weighed on risky assets & AUD/USD

  • Techs lean bullish; monthly RSI rising, consolidation phase persists

  • Hold above 10-DMA, structural support near 0.6650 reinforces bull signs

  • Fed's Goolsbee, minutes of Fed's April 30-May 1 meeting may impact risk

  • US April existing home sales a risk in NY, May Judo Bank PMI a risk in Asia

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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