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May 05 - 01:55 PM

AUD/USD - Rallies To 2-Week High Amid Less Dovish Post-NFP Rate Expectations

By Paul Spirgel  —  May 05 - 01:25 PM
  • AUD/USD ending NY by session highs +0.9% at 0.6753, Fri range 0.6754-0.6689

  • Upbeat U.S. payroll data, in spite of prior hikes may keeps glbl rates up

  • Commodities, oil (+4%), copper (+0.56%), adds to commod-centric AUD bid

  • AUD/USD-Shrugs off US payroll beat amid hawkish RBA nL1N3721E2

  • Pair hits 2-wk high 0.6754, res at 0.6772 Apr 20 high, 0.6789 100-DMA

  • Rise above Apr 14 high 0.6808 puts daily cloud top 0.6861 in view

  • Support at 200-DMA by 0.6730, daily cloud base 0.6693, 10-DMA 0.6659

  • Bulls gaining momentum after surprise RBA hike, talk RBA may do more

  • Techs lean bullish; daily bull hammer formed, daily & monthly RSI rising

  • Rise abv 0.6861, 50% Fib of 0.6565-0.7158, Feb-Mar dip adds to bullish structure

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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