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May 19 - 09:55 PM

AUD/USD - Sour Grapes With China, As Choppy Ranges Extend

By Andrew M Spencer  —  May 19 - 08:00 PM

  • Touch softer after falling 0.8%, as commodities fell and the USD bounced

  • Employment data is today's event risk, polls +15k jobs and 5.6% unemployment

  • Australia says working with China on grape export delays nL2N2N63N0

  • China/Aus trade relations continue to deteriorate, as Australian farmers hit

  • Charts, momentum studies, 5, 10 & 21 daily moving averages crest

  • Setup turned to modest negative, not unusual at the lower end of the range

  • Further consolidation likely - 0.7670-0.7890 broad range contains

  • NY 0.7710 - 0.7763 range is initial support resistance

For more click on FXBUZ


aud may 20 Click here

Source:
Refinitiv IFR Research/Market Commentary

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