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May 17 - 10:55 PM

AUD/USD - Well As Risk-On Mood Carries Over Into Asia

By John Noonan  —  May 17 - 08:35 PM
  • AUD/USD moving higher and is trading above yesterday's 0.7040 high

  • Asian equity markets rallying after strong lead from Wall Street

  • The AXJ index is up 0.54% while the Nikkei is up around 1.35%

  • AUD/USD resistance is at the 21-day MA at 0.7091 where sellers are tipped

  • A break above 0.7100 would confirm a short-term bottom is in place

  • The 5, 10 & 21-day MAs still in bearish alignment, but 5-day turning higher

  • Aus wage price index to be released shortly and will impact RBA expectations

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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