0141 GMT - AUD/USD may pull back to 0.6370, based on its daily chart, says Matt Simpson, senior market analyst at StoneX, in commentary. A bearish "engulfing candle" formed on Wednesday, marking the currency pair's most bearish session since April 4, he notes. This happened together with a false break above 0.6500 level, a daily close below 200-day simple moving average, and a bearish relative-strength-index divergence, Simpson says. "A retracement towards the April volume point of control at 0.6370 seems feasible--and could be reached within one to two trading days, based on recent volatility," Simpson adds. AUD/USD is 0.3% higher at 0.6445.(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 07, 2025 21:41 ET (01:41 GMT)
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