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Thomson Reuters
May 03 - 11:00 PM
AUD/USD - Gently Bid - SOMP Does Not Change Prior Convictions
First appeared on eFXplus on May 03 - 09:45 PM
  • +0.2% into RBA's SOMP, which was not expected to surprise - low key Asia
  • RBA optimistic on growth, but not inflation - on long term hold nRUA3GEE2G
  • Nothing in the report to change any prior convictions on AUD
  • Modest knee jerk short lived extension higher - trades +0.2%
  • Momentum studies conflict, 5, 10 & 20 DMAs trend south - bearish setup
  • Close above 0.7548 10 DMA would suggest a period of consolidation

aud2 may 4 Click here

Source:
Thomson Reuters IFR Markets

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