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TDUX
May 11 - 03:55 PM

AUD/USD - Upbeat Risk Keeps Bulls In Control

By Christopher Romano  —  May 11 - 01:58 PM

• NY opened near 0.7240 after the pair fell toward the 10-DMA & hit 0.7205 overnight

• Softer USD, US yields , oil helped AUD/USD continue its rise

• Rallies in gold, silver, copper, stocks & drop in USD/CNH added to the pair's buoyancy

• AUD/USD turned positive, hit 0.7260, sat near 0.7255 late, was up +0.10% late in the day

• Techs lean bullish; RSIs are rising, pair holds above the rising 10- & 21-DMAs

• AUD/USD's hold above the 61.8% Fib of the 0.8007-0.5910 drop reinforces bull signals
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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