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May 16 - 08:55 AM

AUD/USD - Key Impediments Left Untouched After RBA Minutes

By Christopher Romano  —  May 16 - 06:55 AM
  • AUD/USD traded 0.67095-0.66655 overnight. NY opened near 0.6685

  • Fall ensued despite minutes of RBA meeting saying more hikes possible

  • USD/CNH rally above 6.9810, equity ESv1 & copper HGv1 drops weighed

  • Some US rates SRAU3, US$ weakness ahead of NY open helped AUD/USD bounce

  • Techs are mixed; monthly RSI rises but daily falls, pair below 10 & 200-DMAs

  • AUD/USD's bounce off the May 12 daily low appears corrective in nature

  • Large 0.6700 option expiry for AUD 1 billion today may attract price action

  • US April retail sales, industrial production & May NAHB housing are risks

  • Fed's Mester, Bostic, Barr, Barkin, Williams, Goolsbee, Logan speak today

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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