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Apr 02 - 01:55 AM

AUD/USD - Edges Higher As Iron Ore Bounce Underpins

By John Noonan  —  Apr 01 - 11:15 PM
  • AUD/USD opened -0.40% @ 0.6490 after USD & US yields rose on strong US data nL2N3GA14W

  • In Asia it traded a 0.6483/98 range and is @ session high into the afternoon

  • There wasn't any reaction to RBA minutes confirming their shift to neutral nS9N3D101O

  • AUD/USD received a modest lift from 2.75% rise in Dalian iron ore

  • AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • Support is at the March 5 low at 0.6477 and feb 13 low at 0.6443

  • Resistance is at the 10-day MA at 0.6529 and 21-day MA at 0.6556

  • Selling rallies is the favoured strategy while 0.6560 caps

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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