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May 29 - 03:55 PM

AUD/USD - The Air Above The 200-DMA Remains Thin

By Christopher Romano  —  May 29 - 01:36 PM

• NY opened near 0.6445 after 0.6408 traded overnight, pair neared 0.6430 early

• Dip was bought & pair rallied sharply after US jobless claims and GDP reports

• AUD/DU rallied above the 200-DMA, hit 0.64594 then some gains eroded

• US$ selling abated; USD/CNH neared flat while copper

gave up gains

• AUD/USD sat just above 0.6440 late, pair traded up only +0.25% in NY's afternoon

• Inability to hold above 200-DMA worries bulls but rising RSIs gives them some comfort
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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