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May 26 - 10:55 PM

AUD/USD - Holds Below Key Resistance, Driving Factors Conflict

By Andrew M Spencer  —  May 26 - 08:50 PM

  • +0.1% after closing up 0.2% with risk 'on' USD softer and Wall Street higher

  • Optimism fades that China to bounce quickly from COVID lockdown nL3N2XI0T8

  • Conflicting offshore U.S.-China outlooks leave AUD in a holding pattern

  • Australian final retail sales due at 11.30am in Sydney RTRS poll +0.9%

  • Charts; neutral momentum studies, 5, 10 & 21 DMAs base or climb

  • 21 day Bollinger bands flat line - net a modest positive setup

  • Close above 0.7146, 38.2% of the 2022 fall would be a bullish signal

  • NY 0.7072 low and Thursday's 0.7059 Asian low initial supports

For more click on FXBUZ


aud May 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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