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May 03 - 03:55 AM

AUD/USD - Primed For A Decline As Technical Weakness Emerges

By Krishna K  —  May 03 - 01:41 AM
  • AUD/USD maintains a tenuous hold above support at 0.7690-0.7700 in Asia

  • Undermined by expectations of robust U.S economic recovery, rising inflation

  • Strong U.S. economic indicators likely this week, to cap; U.S. NFP data key

  • Repeated failures above 0.7800 a warning for AUD bulls as rally tires

  • RBA May policy meeting eyed Tuesday, c.bank to reinforce dovish guidance

  • Holidays in Japan, China and United Kingdom curb trading activity Monday

  • Break of 0.7690 opens 0.7670-75, 0.7640-45; resistance 0.7740-45, 0.7770-75

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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