By Christopher Romano — May 09 - 01:35 PM
AUD/USD fell overnight, NY opened near 0.6765, drop extended in early trade
AUD/JPY drop toward 91.10, equity ESv1 losses helped drag AUD/USD down
Rise in US yields US2YT=RR helped drive broad based US$ buying
Pair struck 0.6747 when buyers emerged, pair bounced toward 0.6760 late
Bounce aided by USD/CNH fall from session high, buoyant iron-ore DCIOc2
AUD/USD holds within May 8 daily range, implies consolidation phase likely
Rising monthly RSI & hold above the 200-DMA reinforce bullish signals
US April CPI and the core CPI are key data risks for Wednesday
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Source:
Refinitiv IFR Research/Market Commentary