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May 15 - 01:55 AM

AUD/USD - Resilient, But Charts Suggest A Test Of 0.6584

By Andrew M Spencer  —  May 14 - 11:45 PM
  • +0.2% in a 0.6642-0.6665 range - busy early and then quiet on D3

  • Bid despite softer commodities, Brent oil -0.7% and U.S. copper -0.55%

  • RBAWATCH prices no change in rates at 3.85% at 87.36% on June 6th

  • Tuesday's RBA Monetary Policy Meeting Minutes will be interesting

  • Charts; conflicting momentum studies, 5, 10 & 21 day moving averages

  • 21-day Bollinger bands are starting slip - neutral setup at present

  • Failed at the upper 21-day Bolli, now 0.6795, and closed below 0.6689 21 DMA

  • This is a bearish signal - targets 0.6584 lower 21-day Bollinger band

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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