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Jun 07 - 03:55 PM

AUD/USD - Risk Rebound Gives Longs Some Traction

By Christopher Romano  —  Jun 07 - 01:35 PM
  • AUD/USD dropped in Europe a.m., NY opened near 0.7185, slide extended

  • Pair fell below the 10-DMA, hit a session low of 0.71565 before bouncing

  • EquitiesESv1, copperHGv1, iron-oreDCIOc2 rallies help buoy AUD/USD

  • US$ sales emerge on upbeat risk, USD/CNH drops towards 6.6700

  • AUD/USD turned positive, hit 0.7223 before dipping toward 0.7215 late

  • Diverging daily RSI, daily bull engulfing candle likely worry AUD/USD shorts

  • China May trade balance, ECB meeting, US May CPI are key risks which loom

  • For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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