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May 18 - 10:55 PM

AUD/USD - Steady - USD Weakness Leaves The Charts Positive

By Andrew M Spencer  —  May 18 - 08:42 PM

  • Flat softer after closing up 0.25% on broad based USD weakness

  • Westpac-MI May consumer confidence fell 4.8% to 113.10 - no AUD impact

  • Charts, momentum studies, 5, 10 & 21 daily moving averages rise

  • Setup has turned from neutral to modest positive, though mid range

  • Further consolidation likely - 0.7670-0.7890 broad range contains

  • Fading 0.7690-0.7848 21 day Bolli band - stops outside the range has value

  • Earlier 0.7764 low and 0.7847 upper 21 day Bolli initial support resistance

  • NY 0.7778-0.7809 range is initial support and resistance

For more click on FXBUZ


aud may 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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