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May 19 - 03:55 PM

AUD/USD - The 200-DMA Acts Magnetically

By Christopher Romano  —  May 19 - 01:38 PM

• NY opened near 0.64445 after 0.63995 traded overnight, rally extended in NY

• After an early dip toward 0.6435 buyers emerged, pair rallied just above the 200-DMA

• 0.64645 traded before the a firmed US$ helped send the pair toward 0.6455 late

• AUD/USD gains were aided by equities, copper turning positive on the session

• USD/CNH slide down towards 7.2125 also helped underpin AUD/USD

• Techs are a bit mixed; struggles above 200-DMA persist, head & shoulder top may be forming

• Rising monthly, daily RSIs, hold above 0.6350/0.6400 give longs some comfort
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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