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TDUX
May 13 - 07:55 PM

AUD/USD - Firms Despite Escalating US Inflation Alarm

By James Connell  —  May 13 - 05:49 PM

• AUD/USD +0.4% from Wed 0.72315 low despite DXY rising 0.2%

• U.S. Apr PPI spiked 1.4% m/m (poll +0.5%) as inflation concern mounts

• U.S. Senate approves Trump nominee Kevin Warsh as next Fed Chair

• U.S.-CN meeting in focus, trade & business expected to dominate agenda

• AUD flirting with 0.7283 resistance zone, but will be tough to break

• Overnight range 0.7233-72, support 0.7100 0.6834, resistance 0.7283 0.7661
AUD Hourly Bollinger Band & DYX Daily 55-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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