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AUD/USD overnight lift stalls at old support, US data on tap

Friday, May 29, 2015 12:21 PM UTC

AUD/USD overnight lift capped at old support/now resistance near 0.7675/85
Pair slips & now flat on day, above 0.7840 eases bear pressure
Long upper wick on today's candle, yield spread tighten, techs lean bearish
US econ data decides if slide progresses, if upbeat May 28 low likely cleared
0.7530/50 then eyed and likely tested as RBA set to meet June 2
Chance of cut small but easing bias likely emphasized

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AUD/USD overnight lift stalls at old support, US data on tap

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