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May 22 - 03:55 PM

AUD/USD - Limited Action But Downside Risks Remain

By Christopher Romano  —  May 22 - 01:40 PM
  • NY opened near 0.6640 after AUD/USD traded 0.6667-0.6627 overnight

  • Pair held to a tight 0.6635-0.6651 range in NY as risks were balanced

  • Equity ESv1, AUD/JPY gains & USD/CNH dip from high underpin AUD/USD

  • Higher US rates SRAU3, iron-ore DCIOc2 drop limited AUD/USD gains

  • Daily doji candle formed, implies indecision, other techs lean bearish

  • Pair trades below 21- & 55-DMAs, monthly inverted hammer candle in place

  • Global PMIs for May, US Apr building permits, new housing are risks Tuesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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