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May 14 - 08:55 AM

AUD/USD - Bulls Cede Gains On US Dollar Rebound

By Christopher Romano  —  May 14 - 07:26 AM

(Adds title)

• AUD/USD rallied 0.6465-0.6501 overnight; higher Australia yields

helped buoy

• Lower US yields , US$ selling & iron-ore
gains also helped the rally

• Sellers emerged however; USD/CNH lifted back above 7.2025 & AUD/JPY fell below 94.50

• US$ selling abated as well; AUD/USD dropped, opened NY near 0.6465, down -0.08%

• Daily RSI diverged, daily gravestone doji formed; those may concern longs

• Rising monthly RSI, hold above slew of daily MAs gives longs some comfort however

• Remarks from Fed's Jefferson on the economic outlook may impact risk sentiment in NY
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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