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May 23 - 07:55 PM

AUD/USD - Supports Under Pressure As Metal Prices Retreat

By Krishna K  —  May 23 - 05:46 PM
  • AUD/USD starts week on a cautious note after closing 0.55% lower on Friday

  • Upbeat U.S. manufacturing data, retreat in prices of commodities weigh

  • Copper extends retreat, iron ore prices drop on China price crackdown fears

  • Growing perception RBA more dovish than Fed will limit AUD gainsnL3N2N60RU

  • Upbeat AU economic data & global growth optimism continue to limit downside

  • Support 0.7710-15, 0.7690, 0.7670-75; resistance 0.7745-50, 0.7780-85

  • For more click on FXBUZ


China’s industrial metals get walloped after Beijing says it will step up market management Click here

Source:
Refinitiv IFR Research/Market Commentary

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