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May 15 - 07:55 PM

AUD/USD - Drifts Lower Despite Softer USD; RBA Looms

By James Connell  —  May 15 - 06:20 PM

• AUD/USD -1.5% from Wed high, sits near daily lows despite wider USD selling

• Soft retail sales/producer prices sent UST yields/DXY lower on growth fears

• AUD has failed multiple attempts to sustain itself above 0.6454 200-DMA

• Focus on RBA May 20 OCR decision, 25 bps cut expected, statement will be key

• U.S. Apr import/export prices, Michigan consumer sentiment due Fri

• Overnight range 0.6391-0.6441, support 0.6355 0.6180, resistance 0.6550
AUD Daily 200-DMA & DXY Daily


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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