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May 13 - 10:55 PM

AUD/USD - Positive Markets, But AUD Remains Range Bound

By Andrew M Spencer  —  May 13 - 09:31 PM

  • +0.05%% after closing a shade firmer, as the USD consolidated on Thursday

  • Positive markets, Nikkei +1.6%, ASX 200 +0.85%, E-mini S&P +0.35%

  • Friday, so no significant economic data or scheduled RBA activity

  • The USD and risk appetite will likely lead intraday - tight range likely

  • Charts, momentum studies edge lower, 5, 10 & 21 daily moving averages coil

  • Setup suggests consolidation - 0.7677-0.7842 21 day Bolli's define range

  • 0.7688 London low and 0.7677 low 21 day Bolli initial supports

  • Earlier 0.7732 high then 0.7743 NY high first resistance

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Source:
Refinitiv IFR Research/Market Commentary

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