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May 19 - 08:55 AM
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AUD/USD - Bearish Influence Combine, Three Week Low Struck
By Christopher Romano — May 19 - 07:06 AM
• AUD/USD rallied to 0.7177 overnight, sellers emerged, the pair turned negative
• A 3-week low of 0.7109 traded after RBA minutes indicate rates to be on hold
• USD/CNH rally toward 6.8100, drops in gold, silver, stocks added weight on AUD/USD
• NY opened near 0.7120, the pair traded down -0.71% in early action
• Techs lean bearish; daily, monthly RSI indicate downward momentum is in place
• Pair's hold below 10- & 21-DMAs & May's monthly inverted
hammer reinforce bear signs
audusd
(Christopher Romano is a Reuters market analyst. The views
expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters