USD Trading Outlook (06-05-2015)
AUD/USD
• Pair c200-HMA at NY open, USD bid in Europe, erodes post-RBA gains
• USD hit on worse than f/c Mar trade data, post-RBA spike high tested
• ISM services beat dips pair ~0.7890, dip bought as USD tumble resumes
• Mkt ignores rising US Tsy yields & pushes pair to 0.7955 high
• Little pullback, Techs lean bullish, bull engulfing candle, RSI biased up
• Oz retail sales & China services PMI the risks in Asia