By Christopher Romano — May 10 - 07:15 AM
AUD/USD hit 0.6774 overnight then fell to 0.67495, NY opened near 0.6750
Drop aided by US yield US2YT=RR gains lifting US$; USD/CNH hit 6.9352
Falls in equities ESv1, iron-ore DCIOc2 help weigh down AUD/USD
AUD/USD still within May 8 daily range, implies consolidation phase in place
April US CPI looms, below estimate CPI reinforces view Fed may pause hikes
AUD/USD techs lean bullish; hold above 200-DMA, consolidation are bullish
Rising monthly RSI, bull pennant on daily chart reinforce bull signals
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary