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Apr 11 - 07:55 PM

AUD/USD - Opens Higher As China Stimulus Hopes Underpin

By John Noonan  —  Apr 11 - 06:35 PM
  • AUD/USD Opens +0.38% after AUD was best performing currency Thursday

  • Hopes of China stimulus pushing up iron ore price and supporting AUD nL2N3GK0FI

  • AUD/USD capped at 0.6553 where moving averages provided resistance

  • The 10-day MA is at 0.6548 and the 21-day MA comes in at 0.6556

  • Bids around 0.6500 are supporting on dips for the time being

  • Support is at the Feb 13 low at 0.6443 with more bids at 0.6475/80

  • AUD/USD will likely track USD/CNH moves and sentiment in Asian equities

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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