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May 14 - 05:55 PM

AUD/USD - Slides As A String Of Negatives Take Hold

By Krishna K  —  May 14 - 05:10 PM
  • AUD/USD offered in Asia after closing 0.9% lower on Fri on risk aversion

  • U.S. debt ceiling concerns, faltering China economic recovery weigh

  • Slumping U.S. consumer sentiment, rising inflation expectations undermine

  • Fed policy on right track, but inflation still too high, officials say

  • Declining iron ore and copper prices add to negative sentiment

  • Repeated failures to close above 100-day MA weaken technical picture

  • Friday range 0.6706-0.6636, Monday Asia range 0.6660-0.6647

  • Support 0.6630-35, 0.6605-10, 0.6570-75, resistance 0.6675-80, 0.6700-10

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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