Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
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

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!