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May 12 - 04:55 AM

AUD/USD - Bulls Wounded But Still Have Some Fight Left In Them

By Ewen Chew  —  May 12 - 02:39 AM
  • AUD/USD recovers partially after dropping as much as 0.7%

  • Last at 0.7808, wounded bulls still putting up a fight

  • Needs a Wed close above 0.7808 to stay in uptrend channel

  • Failure would mean Ichimoku Cloud support 0.7770 may go too

  • US CPI ahead may produce buy-rumor-sell-fact for USD

  • Likely strong data probably won't alter Fed's dovishness

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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