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May 11 - 01:55 PM

AUD/USD - Rally Sellers Tip Their Hands But Bulls Remain In The Fight

By Christopher Romano  —  May 11 - 12:35 PM
  • US ratesEDM3US2YT=RR US$ spike up after US April CPI nL2N2X315F

  • Gains erode however, US$ turned negative, AUD/USD rallied to 0.70535

  • Seller emerge ahead of the 10-DMA, May 9 daily high; AUD/USD dips

  • Daily inverted hammer candle forms which may be a sign bears are in control

  • Pair still +ve however & daily, monthly RSIs rise, implies upside momentum

  • AUD/JPY fall from intra-day high towards 90.60 weighs on AUD/USD however

  • AUD/USD longs likely need above 0.7070/80 to take greater control

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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