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Thomson Reuters
May 08 - 08:36 PM
AUD/USD - 0.7000 Region Remain Magnetic
First appeared on eFXplus on May 08 - 01:45 PM
  • Pair buoyed above 0.7000 for most of NY as trade issues linger
  • Equity rally & early slide in US rate complex lift AUD/USD near 0.7015
  • USD/CNH presses higher despite Trump tweet suggesting China wants a deal
  • AUD/USD sinks, nears 0.6990 but lift near 0.7000 late in the session
  • RSIs are neutral, doji in place for May, techs are indecisive for now
  • Lack of traction below 0.7000 could be a concern for bears

chart: Click here

Thomson Reuters IFR Markets


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