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May 17 - 07:55 PM

AUD/USD - Opens Higher As Risk Rally Weighs On USD And JPY

By John Noonan  —  May 17 - 06:55 PM
  • AUD/USD opens 0.83% higher as safe haven USD and JPY sold on risk rally nL2N2X91XR

  • AUD/USD closed above the 10-day MA to shift the pressure to the upside

  • The 10-day MA descends to 0.6983 and is now support on dips

  • Key resistance is at the 21-day MA at 0.7090, which has held since start of trend lower

  • A break above 0.7090 ends the trend lower and suggest bottom is in place

  • China optimism helping to support key commodities and underpin AUD

  • Aus wage price index out today and has the potential to impact RBA expectations

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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