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Mar 31 - 08:55 AM

AUD/USD - Support Looks Vulnerable As Longs Likely Getting Frustrated

By Christopher Romano  —  Mar 31 - 07:15 AM
  • AUD/USD falls despite USD/CNH CNH= drop, iron-ore DCIOc2 gains

  • Pair dips below the 10-DMA, nears 0.7470 before bouncing slightly

  • AUD/JPY dip below 90.80, drop in Aussie yields YTTc1 weigh on AUD/USD

  • Some profit taking by AUD/USD longs ahead of US jobs report also weighs

  • AUD/USD consolidating recent rally & monthly RSI rising, are bull signals

  • Daily RSI is falling however, suggests a move lower could be coming

  • Support near 0.7450, if breaks bear pressure likely to intensify

  • US Fed PCE USPCEM=ECI, March jobs USNFAR=ECI are looming data risks

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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