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May 20 - 08:55 AM

AUD/USD - China Rate Move, Risk Rally Drive Threat To Key Resistance

By Christopher Romano  —  May 20 - 07:25 AM
  • China cuts benchmark reference rate for mortgages nL2N2XC033, buoys risk

  • USD/CNH nears 6.6700, equitiesESv1, copper HGv1, iron-ore DCIOc2 rally

  • Safe-havens US$, yen lower vs most majors, AUD/JPY rallies toward 90.70

  • AUD/USD dip in Asia to 0.7003 was bought, trades 0.7073 in Europe's a.m.

  • NY opens near 0.7065, pair slides slightly as US$ firms a bit in early NY

  • Techs lean bullish; 21-DMA pierced, daily RSI rises, daily bull hammer forms

  • AUD/USD longs need break above May 9 daily high to take greater control

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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