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May 30 - 07:55 PM

AUD/USD - Quiet Start After Choppy Friday Session

By John Noonan  —  May 30 - 06:37 PM
  • AUD/USD 0.46% lower at 0.7709 but recovered from 0.7677 during US afternoon

  • Month-end flows weighed on AUD and NZD ahead of London and NY holiday today

  • Resistance is at 10-day MA at 0.7743 after it held rallies Thursday/Friday

  • AUD/USD trending lower with 5, 10 and 21-day MAs in bearish formation

  • Support is at a double-bottom formed at 0.7675/80 and 61.8 fibo at 0.7669

  • A break below 0.7665 could see the trend lower accelerate

  • RBA will likely reiterate dovish outlook when they meet tomorrow

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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