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May 03 - 08:55 AM

AUD/USD - Hemmed In Between Moving Averages Into The Fed

By Christopher Romano  —  May 03 - 07:10 AM
  • AUD/USD hit 0.66755 then fell to 0.6654 in Europe, NY opened near 0.6660

  • Slide aided by AUD/JPY drop below 90.25, slight drop in copper HGv1 price

  • Lift off low driven by US rate SRAU3 drop, USD/CNH fall below 6.9170 on D3

  • AUD/USD hemmed in between the 10- & 21-DMAs, pair traded up 0.02% early NY

  • Techs mixed; RSIs rising but pair below daily cloud, 55- & 200-DMAs

  • Fed expected to hike by 25 bps, statement will get investors focus

  • If Fed indicate more hikes due as RBA did then AUD/USD likely to fall

  • If a pause in hikes indicated risk-on likely follows, AUD/USD should rally

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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