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May 25 - 08:55 AM

AUD/USD - Softer Risk Helps Consolidation Phase Persist

By Christopher Romano  —  May 25 - 07:25 AM
  • Equities ESv1, commodities, yieldsAU3YT=RRUS10YT=RR trade lower

  • Slight risk-off rallies safe-havens US$, yen; AUD/JPY falls below 89.80

  • EM currencies generally lower vs US$, USD/CNH nears 6.6930 in early NY

  • AUD/USD falls from 0.7119 in Europe, 0.7061 trades as NY gets going

  • Pair holds above the 21-DMA & within the May 23 daily range (0.7046/0.7126)

  • Price action shows consolidation of gains off the May 12 low is ongoing

  • 10-DMA poised to cross above 21-DMA, will be a bull signal once it occurs

  • May 6 high, 38.2% Fib 0.7661-0.6829, 55-DMA are impediments above the market

  • Fed's Vice Chair Brainard, Fed minutes of May 3-4 meeting are event risks

  • US April durable goods, Australia Q1 Capex are looming data risks

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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