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May 30 - 03:55 PM

AUD/USD - Bears Cede Ground On Softer US Yields, Dollar

By Christopher Romano  —  May 30 - 01:36 PM

• NY opened near 0.6425 after 0.6451 traded overnight, 0.6409 traded early

• Firmer US yields, US$ and USD/CNH rally to 7.2099 weighed down AUD/USD

• Buyers emerged however; yields,US$ traded downward, gold bounced & stocks sank

• AUD/USD neared 0.6440, traded down only -0.11% late in the session

• The pair sat near the converging 10-, 21- and 200-DMAs in NY's afternoon

• Monthly inverted hammer candle, rounding top patter on daily charts worry longs
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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