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TDUX
May 01 - 08:55 AM

AUD/USD - Bulls Struggle To Gain Escape Velocity

By Christopher Romano  —  May 01 - 07:13 AM

• AUD/USD hit a 10-session high of 0.7205 overnight; USD, US yield drops buoyed

• Sellers emerged however, 0.7184 hit in Europe, NY opened near 0.7190, pair was down -0.16%

• USD/CNH, oil gains & drops in gold , silver

weighed on AUD/USD

• A daily doji formed & daily RSI diverged on the high, could be concerns for AUD/USD bulls

• Consolidation of gains off April 13 low, rising monthly RSI give bulls some comfort however

• US April S&P Global and ISM manufacturing PMIs are data risks in NY's morning
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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