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May 15 - 08:55 AM

AUD/USD - Key Resistance Zone Probed Ahead Of US CPI, Sales Risks

By Christopher Romano  —  May 15 - 07:15 AM
  • AUD/USD dipped down to 0.66215, buyers emerged, rally ensued, 0.6651 hit

  • Pair probed 0.6650/70 zone where some daily highs, March monthly high sit

  • Softer US yields US2YT=RR, US10YT=RR, US$ helped drive the rally

  • USD/CNH, equity ESv1 & commodity HGv1XAU= gains helped buoy AUD/USD

  • Techs are bullish; RSIs rising, pair above many DMAs, consolidation persists

  • Rally above 0.6650/70 may squeeze shorts, bring 0.6840/70 into focus

  • US April CPI, retail sales & their impact on Fed policy are key risks today

  • Remarks from Fed's Kashkari, Bowman also may impact risk Wednesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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