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May 19 - 04:55 PM

AUD/USD - US Rates Moves, CNH Buys Give Longs A Big Boost

By Christopher Romano  —  May 19 - 02:05 PM
  • AUD/USD dipped in Europe am, 0.69585 hit, buyers emerged & big gains follow

  • Pair rallied above the 10-DMA as US rates EDM3US2YT=RR weighed down US$

  • Investors fear slower growth, reduce expectations for Fed's terminal rate

  • USD/CNH fall toward 6.7170, CopperHGv1 gains help underpin AUD/USD

  • AUD/USD pierced the 21-DMA, hit 0.7072, sat near the 21-DMA late in the day

  • Techs lean bullish; RSIs rising, monthly RSI diverging, consolidation ends

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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