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Jun 05 - 08:55 AM

AUD/USD - Shorts Hold The Reins Ahe3Ad Of ADP, ISM Services PMI

By Christopher Romano  —  Jun 05 - 07:10 AM
  • AUD/USD rallied to 0.6664 in Asia then turned lower, 0.66395 hit

  • NY opened near 0.6645, pair was down -0.13% ahead of key US data

  • Downside miss to Australia Q1 GDP helped weigh on AUD/USD overnight

  • US yield US2YT=RR lift, US$ buys weighed as well; USD/CNH hit 7.2562

  • AUD/USD drop halted by the 10- & 21-DMAs but they look vulnerable

  • Daily, monthly RSIs are falling & a daily inverted hammer candle formed

  • US May ADP, ISM non-manufacturing PMI are data risks in NY

  • Reports indicating weaker jobs, services may drive AUD/USD higher

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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