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May 16 - 11:55 PM

AUD/USD - Lower With Risk - Asian COVID-19 Anxiety Weighs

By Andrew M Spencer  —  May 16 - 10:45 PM

  • -0.35%, trading at the base of a 0.7750 - 0.7787 range, as risk sours

  • Asia's struggle with spreading COVID-19 undermines risk appetite

  • China data was robust, but some did not meet expectations nL2N2N4032

  • Soft markets, E-mini S&P -0.15%, Nikkei -1.2% and AsiaxJP -0.1%

  • Charts, momentum studies edge lower, 5, 10 & 21 daily moving averages coil

  • Setup suggests consolidation - 0.7670-0.7890 range in place since mid April

  • Friday's 0.7714 base and 0.7684 lower 21 day Bolliger band initial supports

  • Earlier 0.7787 high then 0.7844 upper 21 day Bollinger band first resistance

For more click on FXBUZ


gbp 2 may 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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