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May 20 - 03:55 PM

AUD/USD - Bears Give Back Some Ground

By Christopher Romano  —  May 20 - 01:45 PM

• NY opened near 0.6415 after 0.6459 traded overnight, bears held control in early trading

• Firmer US yields, US$ & AUD/JPY drop helped AUD/USD hit 0.6392; buyers emerged

• US$ softened, USD/CNH erased most gains; copper bounced up & gold traded up +1.73%

• AUD/USD climbed back above the 10- & 21-DMAs, neared 0.6420, was down -0.57% late

• Hold below 200-DMA & falling daily RSI give techs a bearish lean

• Rounding top pattern on daily charts & May's monthly doji candle reinforce bearish signs
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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