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May 07 - 01:55 AM

AUD/USD - Slips From Highs Despite China Sugar Hit

By James Connell  —  May 06 - 11:49 PM

• AUD/USD -0.5% from Wed's high as USD sentiment improves ahead U.S./CN talks

• CN stimulus stoked a short-lived AUD rally before USD buyers re-emerged

• U.S. Treasury Secretary Bessent talking-up prospects for trade deals

• Escalating India/Pakistan instability undermining risk sentiment

• AUD should be supported near 0.6459 200-DMA, break below would inspire bears

• FOMC outcome 1800 GMT Wed, Powell's press conference will be critical

• Range Asia 0.6478-0.6515, support 0.6459 0.6360, resistance 0.6550
AUD Daily 200-DMA


AUD Hourly Bollinger Study


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

Source:
London Stock Exchange Group | Thomson Reuters

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