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Thomson Reuters
May 30 - 03:48 AM
AUD/USD - Retains Bid Tone After Soft Aus Data
First appeared on eFXplus on May 29 - 11:30 PM
  • AUD/USD opened 0.6917 and moved to 0.6929 in early Asia
  • Move higher was helped by AUD/JPy buying out of Tokyo
  • Aus data weaker than expected but had no impact nS9N21K009 nS9N21K005
  • Market already pricing in multiple RBA cuts so data less important
  • AUD/USD clung to 0.6925 into the afternoon session
  • Residence of pair likely to be frustrating bears/shorts
  • Support at 10-day MA at 0.6905 with resistance at 21-day MA at 0.6940

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