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Apr 15 - 03:55 PM

AUD/USD - Bulls Hold The Reins Despite Giving Back Some Ground

By Christopher Romano  —  Apr 15 - 01:50 PM

• NY opened near 0.6350 after 0.6317 traded overnight, rally extended in early NY

• US$ & US yield weakness and equity gains helped AUD/USD rally to 0.6381

• Pair began sliding as stocks traded downward and US$ buying emerged

• AUD/USD gave back some earlier gains, slid and neared 0.6355 late in the session

• Pair traded up +0.44% which helped keep technical signals bullish

• Rising daily, monthly RSIs & April's monthly bull hammer highlight upside risks

• China Q1 GDP, March retail sales & industrial production are data risks in Asia
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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