USDMXN and USDZAR Extend Breaks While EURUSD, AUDUSD and SPX Tip Range

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S&P 500, USDMXN, USDZAR, EURUSD, AUDUSD, USDCAD Talking Points:

• Fundamentals were loaded this past session between the global flash PMIs for May and news of escalating tensions between the US and China
• Risk trends have stalled at a precarious technical level, perhaps best defined by the S&P 500 between its 200-DMA at 3,000 and 61.8% Fib at 2,940
• Among the very few benchmarks attempting a true trend are EM FX pairs like USDMXN, USDZAR and USDBRL; while EURUSD, AUDUSD, NZDUSD and USDCAD are primed for range

What do the DailyFX Analysts expect from the Dollar, Euro, Equities, Oil and more through the 2Q 2020? Download forecasts for these assets and more with technical and fundamental insight from the DailyFX Trading Guides page.
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