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Jun 02 - 08:36 AM

AUD/USD - Bulls Keep The Advantage Despite Trade Risks

By Christopher Romano  —  Jun 01 - 09:20 AM
  • China Caixin PMI nL4N2DB1AM, copper & iron-ore lift AUD/USD overnight

  • US-Sino trade tensions sour risk Click here , some gains erode

  • Pair falls from 0.6772 high toward intra-day support near 0.6720

  • Pair is still up over 0.75% on the day & technicals remain bullish

  • RSIs rise, pair above 200-DMA and 76.4% Fib of 0.7032-0.5510 pierced again

  • Close above the Fibo & 200-DMa should bolsters bullish sentiment

  • Feb's 0.6774 monthly high is an impediment, if breaks 0.7020/40 is targeted











aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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