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May 28 - 11:00 PM

AUD/USD - Slips Lower As Risk Rally Wanes After Solid Start

By John Noonan  —  May 27 - 11:40 PM
  • AUD/USD opened 0.47% lower at 0.6625 despite late rally on Wall Street

  • Pair traded to 0.6612 early before equities rallied in early Asia

  • AUD/USD traded to 0.6636 with Lowe comments and Aus Capex helping nL4N2DA06EnAZN02P200

  • The equity rally faded late morning and AUD/USD drifted lower

  • Heading into the afternoon AUD/USD trading around session low below 0.6610

  • Failure to break key resistance at 0.6650/85 may encourage paring of longs

  • Support is found at 10-day MA at 0.6560 and break would suggest top in place














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Source:
Refinitiv IFR Research/Market Commentary

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