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May 22 - 10:55 PM

AUD/USD - Consolidates After Wed Drop, AUD/NZD Selling Persists

By Krishna K  —  May 22 - 10:20 PM
  • AUD/USD unchanged in Asia, trades in a narrow 0.6615-0.66245 range

  • Slightly offered tone likely to persist after relatively sharp 0.7% Wed drop

  • Higher-for-longer Fed and profit-taking declines in commodities weigh

  • Downside limited as RBA also equally hawkish, signals status quo on rates

  • AUD/NZD selling undermines as effect of RBNZ's hawkish surprise Wed lingers

  • Cross tests 1.0827-34 support, lows in April; break opens 1.0800-05, 1.0785

  • AUD/USD support 0.6600-05, stronger at 0.6580, resistance 0.6645-50, 0.6680

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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