TEST, PLEASE IGNORE

MNI China Daily Summary: Tuesday, May 28

MNI BRIEF: Japan's April Trimmed Mean Rises 1.8% Vs. 2.2% - BOJ

MNI BRIEF: China To Curb Key Financial Risks - NFRA

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1101 Tues; -2.43% Y/Y

EZ/UK Bond Supply Calendar: Spain Syndication; UK, DE Wednesday

MNI: US Q1 FHFA HPI Q/Q SA +1.1% V +6.6% Q1 2023

MNI:US MAR FHFA HPI SA +0.1% V +1.2% FEB; +6.7% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Extends Gains

AUDUSD TECHS
  • RES 4: 0.7895 76.4% retracement of the Feb 25 - Apr 1 sell-off
  • RES 3: 0.7849 High Mar 18 and a reversal trigger
  • RES 2: 0.7833 2.0% 10-dma Envelope
  • RES 1: 0.7816 High Apr 20
  • PRICE: 0.7745 @ 17:22 BST Apr 20
  • SUP 1: 0.7706 Low Feb 14 and 19
  • SUP 2: 0.7635 Low Apr 14
  • SUP 3: 0.7586 Low Apr 13
  • SUP 4: 0.7532/17 Low Apr 1 and the bear trigger / Low Dec 22

AUDUSD maintains a firmer tone following last week's break of 0.7677, Apr 7 high and this week's follow through. Recent gains have also resulted in a break of trendline resistance drawn off the Feb 25 high and note, price is back above the neckline of a recent head and shoulders reversal pattern. Furthermore, an ability to remain above the 50-dma strengthens a bullish case. Initial firm support is at 0.7706, Feb 14 and 19 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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