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May 22 - 01:55 AM

AUD/USD - Blips Higher On Hawkish RBNZ But Fails To Hold Gains

By Krishna K  —  May 21 - 11:35 PM
  • AUD/USD unchanged in Asia after trading in a 0.6666-0.66855 range

  • Rises to day high as NZD/USD rallies on hawkish RBNZ

  • Fails to sustain gains as AUD/NZD sellers cap, cross down 0.7%

  • AUD's inability to gain despite slew of positives a worrying sign for bulls

  • Ignores higher-for-longer RBA, elevated commodities, carry demand

  • Rallies capped as Fed officials urge patience on timing of initial rate cut

  • Fed April 30-May 1 meeting minutes, Nvidia earnings key Wednesday

  • Supports 0.6645-50, 0.6620-25, resistance 0.6690-95, 0.6710-15

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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