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May 03 - 08:55 AM

AUD/USD - Upbeat Risk, Commodities Help Put The Cloud In Play

By Christopher Romano  —  May 03 - 07:24 AM
  • Equities ESv1 and copper HGv1 erase some of Friday's losses

  • Upbeat risk drives sales of safe-haven yen, AUD/JPY lifts near 84.75

  • High-beta, commodity ccys gains versus the US$, especially the antipodeans

  • AUD/USD rallies away from the 21-DMA & above the 55-DMA, nears 0.7740

  • Daily cloud base, 10-DMA (0.7746/50) are impediments above the market

  • USD/CNH is rallying though, could be a concern for AUD/USD if rally extends

  • AUD/USD bears need break of support in the 0.7680/90 area to gain control

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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