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May 06 - 07:55 PM

AUD/USD - Poised To Test 0.7815/25 After Bullish Outside Day

By John Noonan  —  May 06 - 05:53 PM
  • AUD/USD opens 0.5% higher after completing a bullish outside day

  • Broadly weaker USD and surging commodities underpinning AUD/USD nL1N2MT1O5

  • AUD/USD closed above the 10-day MA (0.7763) and that is now support

  • Bullish technical backdrop suggest AUD/USD set to test 0.7815/25

  • The April 29 high is at 0.7818 and the 61.8 of 0.8007/0.7532 is at 0.7825

  • RBA SOMP today will upgrade forecasts for growth, employment and inflation

  • The tweaks are expected and won't suggest any change in RBA bias near-term

  • AUD/USD may consolidate ahead of the key US payroll report later today

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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