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Apr 29 - 07:55 PM

AUD/USD - Repeated Failures Above 0.7800 A Warning For Bulls

By Krishna K  —  Apr 29 - 05:46 PM
  • AUD/USD opens 0.3% lower after again failing to sustain rise above 0.7800

  • Slips from 0.7818 1-month high as bulls balk ahead of 0.7826 resistance

  • Fails to gain on elevated iron ore, copper prices, robust Australian economy

  • 3rd failure at 0.7815-18 despite positives is a sign that rally is tiring

  • Rising U.S. yields, shrinking AU-U.S. yield advantage to cap rallies

  • China official PMI and Caixin manufacturing PMI due Fri, to set tone

  • Support 0.7850-55, 0.7725, 0.7690-95, resistance 0.7800-05,0.7815-25, 0.7849

  • For more click on FXBUZ


AUD/USD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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