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AUD/USD: Hawkish RBA, China And Elections Will Define The Aussie Trend

By Gregor HorvatForexMay 16, 2022 04:23AM ET
www.investing.com/analysis/audusd-hawkish-rba-china-and-elections-will-define-the-aussie-trend-200624267
AUD/USD: Hawkish RBA, China And Elections Will Define The Aussie Trend
By Gregor Horvat   |  May 16, 2022 04:23AM ET
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We are seeing some recovery on stocks since Friday, but USD remains mostly bullish, especially vs metals. Aussie also see some intraday swing down after news data from China showed that Retail Sales contracted by 11.1% on a yearly basis in April. Also, Shanghai remains under coronavirus controls meaning that Aussie can stay under pressure here.

However hawkish RBA and Australian elections can potentially put some new swings in play on the Aussie pair. Technically we see pair in the late stages of wave C, possibly even making a wedge here, so we assume that sooner or later the pair will stabilize. Higher stocks could also help Aussie to find new buyers.

aud may 16 2022
aud may 16 2022

AUD/USD: Hawkish RBA, China And Elections Will Define The Aussie Trend
 

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AUD/USD: Hawkish RBA, China And Elections Will Define The Aussie Trend

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