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May 13 - 01:55 PM

AUD/USD - Shorts Concerned Break Might Have Been False

By Christopher Romano  —  May 13 - 12:34 PM
  • AUD/USD drop from May 10 peak breaks the t-l off April's low, 55-DMA

  • Pair stalls short of the May 4 daily low, sharp bounce takes hold

  • Bounce extends above the 55-DMA, extends to test the bottom of the t-l

  • Daily doji candle forms, implies pause in recent bear trend or reversal due

  • Above f/c April US PPI reinforces inflation concerns, US$ rally extension

  • US April sales USRSL=ECI due Friday, if upbeat AUD/USD might sink again

  • Break of key 0.7675/80 support could lead to test of April monthly low

  • For more click on FXBUZ



aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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