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May 15 - 06:55 AM

AUD/USD - Longs Retest Key Barrier Ahead Of Pivotal US CPI

By Justin Mcqueen  —  May 15 - 04:45 AM
  • AUD/USD +0.3%, retests recent highs ahead of the pivotal U.S. CPI

  • Resistance at 0.6650 remains a key barrier to further upside

  • Softer U.S. CPI than f/c likely takes AUD back above 0.67

  • Clear bias to sell USD as mixed PPI sees USD head lower nL1N3HH1CU

  • Lower U.S. yields also act as a drag on USD, 10yr at monthly lows of 4.42%

  • View of the Week–Dollar outlook contingent on U.S. CPI nL1N3HG1Q8

  • Support: 200-HMA (0.6605) has defined the recovery in the pair

  • Event risk ahead = U.S. CPI and retail sales

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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