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May 23 - 06:55 AM

AUD/USD - Pivots 0.71 After Biden-Spurred Jump To 10-Day High

By Rob Howard  —  May 23 - 05:05 AM
  • 0.7090 is AUD/USD low since its late Asia jump to 0.7125 (high since May 6)

  • Jump spurred by Biden saying he is "considering" reducing China tariffs

  • See: nT9N2VL001. 0.7098 was high before Biden addressed tariffs issue

  • U.S. Treasury's Yellen and trade czar Tai at odds over tariffs (May 17)

  • See: nL2N2X70J0. 0.7073 (Friday's high) is an AUD/USD support level

  • Labor returns to power in Australia after 9 years in opposition nL2N2XE0KM

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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