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May 01 - 01:55 PM

AUD/USD - Rally Sellers Emerge As Does A Troubling Sign

By Christopher Romano  —  May 01 - 12:15 PM
  • AUD/USD rallied to a 4-session high in early NY, traded 0.66685

  • Pair rallied through the up trend line off March 10 low, hit the 10-DMA

  • Sellers emerged as US rate SRAU3 gains drove broad based US$ buying

  • AUD/USD traded back below the rising trend line, neared 0.6630

  • Pair still up on the session however, traded up +0.25% in NY's afternoon

  • Daily inverted hammer candle formed however, is a concern for recent longs

  • Today's hammer candle suggests AUD/USD bears may still be in control

  • Hammer occurring near the 10-DMA & trend line give it more credence

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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