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May 19 - 10:55 PM

AUD/USD - Slips From Highs As AUD/JPY Selling Weighs

By John Noonan  —  May 19 - 09:20 PM
  • AUD/USD traded as low as 0.7019 after Tokyo sold AUD/JPY in early trading

  • AUD/JPY rose 1.0% yesterday and is down 0.30% this morning on profit taking

  • AUD/USD completed a bearish outside day Wed and bullish outside day Thurs

  • High volatility and mixed signals hurting bulls and bears

  • A close above the 21-day MA at 0.7051 would suggest more upside

  • Support is at the 10-day MA at 0.6966 and break would ease upward pressure

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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