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May 19 - 08:36 PM

AUD/USD - Breaks Higher As Risk Rally Prompts AUD/JPY Buying

By John Noonan  —  May 18 - 08:45 PM
  • AUD/USD has traded as high as 0.6553 on AUD/JPY short-covering

  • Key resistance at double-top 0.6570 now in focus for AUD/USD

  • The close above the 100-day MA at 0.6507 is technically bullish

  • That reading will now be support and break would ease upward pressure

  • The ASX 200 and Nikkei opened over 2% higher to add to risk-on tone










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Source:
Refinitiv IFR Research/Market Commentary

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