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May 22 - 08:55 AM

AUD/USD - US Asset Recovery Helps Keep Familiar Turf Trod Upon

By Christopher Romano  —  May 22 - 07:16 AM

• AUD/USD rallied above the 200-DMA overnight, hit 0.6459, sellers emerged

• Pair turned lower, fell below the 10- & 21-DMAs, hit 0.6415 early NY, down -0.24%

• US asset buying weighed on AUD/USD; US Treasuries, US$ rallied, USD/CNH hit 7.2075

• Gold's -0.65% drop & equity gains also helped sink AUD/USD

• Pair remains within its consolidation range in place sine early May

• Round top pattern on daily charts, May's monthly doji may be concerns for longs

• Weekly jobless claims, May S&P Global PMIs, April existing home sales are data risks
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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