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May 21 - 07:55 AM

AUD/USD - Bulls Hold The Edge But Range Trade Persists

By Christopher Romano  —  May 21 - 07:07 AM

• AUD/USD rallied 0.6419-0.6458 overnight, NY opened near 0.6445, pair up +0.33%

• Pair held within its consolidation range however even as US assets were shunned

• US Treasuries , US$, USD/CNH were sold while gold was bought

• AUD/JPY's drop below 92.50 helped AUD/USD fall back below the 200-DMA

• Techs are a bit mixed; daily, monthly RSIs rising but rounding top pattern on daily chart

• AUD/USD's inability to maintain upward momentum above 200-DMA may worry longs
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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