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May 12 - 07:55 PM

AUD/USD - Breaks Lower As US-China Hit Pause On Tariffs

By James Connell  —  May 12 - 06:16 PM

• AUD/USD -1.4% overnight after U.S. & CN announced tariff truce details

• Unwinding of 'negative USD' trade accelerating as growth fears abate

• AUD trajectory suffering short-term, breaks base of month-long trend channel

• Fragile India/Pakistan ceasefire remains concerning for Asia markets

• U.S. CPI due Tue, AU employment Thur (poll +25.0k jobs, 4.1% unemployment)

• Overnight range 0.63585-0.6461, support 0.6180, resistance 0.6550 0.66875
AUD 4hr Trend Channel Chart


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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