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TDUX
May 13 - 02:55 AM

AUD/USD - Rally Stalling As US-China Meeting Edges Closer

By James Connell  —  May 12 - 11:46 PM

• AUD/USD flat Wed as markets calibrate diverse internal & external factors

• U.S.-CN meeting in focus, trade & business agenda expected main agenda

• AU Q1 housing finance: owner occupied -4.3% q/q, investment -3.0% q/q

• Iran peace deal breakdown elevates U.S. oil stockpile concern, WTI $101

• AU budget investment tax changes not market moving in short term

• AUD less likely to mount challenge of 0.7283 resistance, may soften further

• Range Aisa 0.72315-475, support 0.7100 0.6834, resistance 0.7283 0.7661
AUD Daily 55-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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