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May 28 - 01:55 AM

AUD/USD - Stocks, Commodities Move Higher, But AUD Stagnates

By Andrew M Spencer  —  May 27 - 11:58 PM

  • Steady after trading in a 0.7726-0.7745 range - flow at the open, then quiet

  • AUD flat despite bid stocks/commodities, E-mini S&P +0.3%, ASX 200 +1.2%

  • Old adage of 'what will not go up may come down' could apply next week

  • Victoria sees fewer new COVID-19 cases on first day of lockdown nL2N2NE3KN

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

  • Neutral setup, as choppy broad 0.7670-0.7890 consolidation extends

  • Value in fading 0.7685-0.7838 21 day Bolli band with stops outside the range

  • Thursday's 0.7723 base and NY 0.7757 high initial support and resistance


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aud 2 may 28 Click here

Source:
Refinitiv IFR Research/Market Commentary

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