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TDUX
May 05 - 08:55 AM

AUD/USD - Better Risk Throws Bulls A Life Line

By Christopher Romano  —  May 05 - 07:07 AM

• AUD/USD pierced the 21-DMA, fell to 0.7136 after the RBA hiked rates 25 bps

• Buyers emerged however as the USD, US yields , oil sank

• Rallies in gold , silver , stocks , AUD/JPY aide AUD/USD's bounce

• 0.7174 traded in Europe's morning, NY opened near 0.7165, the pair was down -0.05%

• Long legged doji candle, ongoing consolidation of gains off March 31 low are bull signals

• US March int'l trade, April ISM non-manufacturing PMI are data risks in NY's morning
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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