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May 25 - 01:55 AM

AUD/USD - Positive Asian Markets Provide Underlying Support

By Andrew M Spencer  —  May 24 - 11:50 PM

  • +0.05% in a tight 0.7746-0.7761 range with only moderate flow

  • Restrictions return to Melbourne after fresh COVID outbreak nL2N2NC03J

  • Vaccination rates are improving, but rollout needs to accelerate

  • Charts, momentum studies, 5, 10 & 21 daily moving averages crest or ease

  • Modest negative setup, as choppy USD led consolidation extends

  • AUD trades towards the middle of the 0.7670-0.7890 range since mid April

  • Value in fading 0.7690-0.7842 21 day Bolli band with stops outside the range

  • 0.7746 Asian base & Friday's 0.7783 high initial support resistance


    For more click on FXBUZ


aud 2 may 25 Click here

Source:
Refinitiv IFR Research/Market Commentary

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