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May 12 - 11:55 PM

AUD/USD - Muted Bounce, Despite Buoyant Stocks

By Andrew M Spencer  —  May 12 - 10:05 PM

  • +0.2% after falling 1.2% on Thursday, as optimism returns to stocks

  • Buoyant regional stocks, Nikkei +2.5%, ASX 200 +1.5% and E-mini S&P +0.65%

  • Optimistic Powell nL2N2X433H, though nothing new may be behind risk bounce

  • Charts; 5, 10 & 21 day moving averages head lower with 21 day Bolli bands

  • Strong trending signals targets a test of 0.6758, 50% 2020/2021 rise

  • Close above 0.7139 falling 21 day moving average needed to end trend

  • Sydney 0.6856-0.6891 range is initial support and resistance

For more click on FXBUZ


aud May 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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