By Andrew M Spencer — May 18 - 08:35 PM
+0.15% with risk gently bid, after Thursday's 0.55% strong USD-led drop
Positive markets, ASX 200 +0.35%, Nikkei +0.7%, and E-mini S&P +0.15%
Rising yield spreads weigh on the AUD, 10yr UST yields are up 18bp this week
No Australian data or scheduled RBA events, so the USD, risk likely lead AUD
Charts; momentum studies flat line, 5, 10 & 21 DMAs track south
21-day Bollinger bands also head lower - strong bearish setup
Targets a test of 0.6573 April base and the 0.6547 March, and 2023 low
Thursday's 0.6667 high then 0.6676 21-day moving average initial resistance
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary