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May 19 - 03:55 PM
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AUD/USD - One Month Low Hit, 55-DMA Pierced On Soured Risk
By Christopher Romano — May 19 - 01:45 PM
• NY opened near 0.7115 after 0.7177 traded overnight, drop extended in NY
• US yield gains drove broad based USD which weighed on AUD/USD
• USD/CNH rally to 6.8200, drops in gold, silver, copper, stocks also weighed
• AUD/USD fell below the 55-DMA, hit 0.7080 then bounced after Europe's close
• Softer USD, US yields & a bounce in risk lifted AUD/USD toard 0.7110 late
• The pair traded down -0.80% in NY's afternoon & techs leaned bearish
• Falling RSIs, monthly inverted hammer, hold below 10- &
21-DMAs are bear signs
audusd
(Christopher Romano is a Reuters market analyst. The views
expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters