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May 18 - 08:55 AM

AUD/USD - Investor Optimism Puts Key Resistance In Play

By Christopher Romano  —  May 18 - 07:21 AM
  • Risk-on leads investors out of safe-havens US$ & yen, AUD/JPY nears 85.15

  • Equities ESv1, copper HGv1 & iron-ore DCIOc2 all trade up on the day

  • Most EM ccys gains vs US$, China's yuan CNH= lifts above 6.4200 vs US$

  • AUD/USD rallies away from the 21-DMA and above the 10-DMA, hits 0.78135

  • Structural resistance in the 0.7815/20 zone is now threatened

  • Rising daily, monthly RSIs imply bull momentum in place & higher levels due

  • Break of 0.7815/20 likely triggers stops, puts 0.7840/45, 0.7890/95 in play

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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