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May 19 - 08:55 AM

AUD/USD - Risk From Fed's Powell Drives Short Covering

By Christopher Romano  —  May 19 - 07:25 AM
  • AUD/USD dipped to 0.66175 overnight, buyers emerged, 0.6664 then hit

  • Gains aided by USD/CNH drop to 7.0125 after hitting 5-mo high of 7.0750

  • Equity ESv1, commodity HGv1 gains also helped boost AUD/USD

  • AUD/USD still within Thursday's daily range & below the 21- & 55-DMAs

  • May's monthly inverted hammer reinforces bearish technical signals

  • April, March monthly lows support, breaks bring 0.6375/0.6405 into focus

  • Daily cloud base, 10- & 200-DMAs, May 16 high breaks give longs some control

  • Comments from Fed's Williams, Bowman, Powell are risks during NY hours

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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