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Thomson Reuters
Jun 10 - 12:12 AM
AUD/USD - Rocked By China Trade Data, May Resolve Lower
First appeared on eFXplus on Jun 09 - 10:00 PM
  • AUD/USD pops after China May exports beat forecast nB9N22V02F
  • But 8.5% y/y slump in imports may skew AUD lower eventually
  • Exports likely frontloaded to beat US tariffs deadline
  • Imports provide a more forward-looking cue for global growth
  • AUD/USD could through 0.6970 base of Bollinger uptrend channel
  • If bullish bias is lost, 20 DMA support at 0.6931 will be tested

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