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May 22 - 08:55 PM

AUD/USD - Lower Commodities, Higher-For-Longer Fed Weigh

By Krishna K  —  May 22 - 07:35 PM
  • AUD/USD on the defensive in Asia after declining 0.7% Wednesday

  • Weighed down by higher U.S. yields as Fed stresses higher-for-longer rates

  • Fed shifts talk to 'scenarios' as policy grows less certain

  • Commodities drop undermines AUD; NYK copper -5%, gold -1.8% on profit-taking

  • AUD also hit by technical selling after failure to rally on positive news

  • Minor support 0.6600-05, 0.6580, resistance 0.6645-50, 0.6680

  • Wednesday range 0.66855-0.66085

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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