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May 17 - 08:55 AM

AUD/USD - Longs On Defense As US Dollar Stays Firm

By Christopher Romano  —  May 17 - 07:20 AM
  • AUD/USD hit 0.66835 then turned lower, 0.6649 traded, NY opened near 0.6655

  • US yield US10YT=RR, US2YT=RR gains drove broad based US$ buying

  • USD/CNH rallied to 7.2349 on D3 in early NY to help weigh on AUD/USD

  • AUD/USD sank despite rallies in iron-ore DCIOc2 and copper HGv1

  • Pair is testing old resistance near 0.6650 which may now be support

  • Daily techs lean bearish; RSI falling, price drop follows Thurs. doji

  • Fed's Waller, Daly scheduled to speak Friday, may impact risk sentiment

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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