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Thomson Reuters
May 08 - 02:36 AM
AUD/USD - Bid On RBNZ Led AUD/NZD Demand, Bias Remains Lower
First appeared on eFXplus on May 07 - 11:35 PM
  • +0.2%, supported by AUD/NZD demand after the RBNZ cut to 1.5% nL3N22E0MC
  • Knee jerk cross jump from 1.0635 to test 1.0726 on the RBNZ announcement
  • As in April sellers above 1.0700 remain live and a 1.0680 retreat followed
  • This provided a floor on the NZD, which bounced 50 pips off the 0.6525 low
  • Neutral AUD momentum studies, negative 5, 10 & 21 daily, weekly monthly MAs
  • Bearish setup targets a test of 0.6936, 61.8% of the 2019 rise
  • Close above the falling 0.7083 21 DMA would undermine the bearish bias

nzd2 may 8 Click here

aud2 may 8 Click here

aun may 8 Click here

Source:
Thomson Reuters IFR Markets

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