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
Source:
Refinitiv IFR Research/Market Commentary