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May 25 - 08:55 AM

AUD/USD - Struggles Above The Cloud Top Persist

By Christopher Romano  —  May 25 - 07:19 AM
  • Upbeat risk drives US$ & yen sales overnight, AUD/JPY rallies above 84.55

  • AUD/USD spikes up to 0.7776; equity gains, drop in US rates help buoy

  • USD/CNH sharp fall below 6.3930 also help drive AUD/USD higher

  • AUD/USD pierced the 21-DMA, daily cloud top but some gains erode

  • Copper turning negative, AU yield drops help drive AUD/USD near the 10-DMA

  • Pair still up small but a daily doji candle forms, suggests indecision

  • Daily charts show H&S top forming, break of 0.7815/20 negates that pattern

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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