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Mar 22 - 11:55 PM

AUD/USD - Grinds Lower As Slide In NZD/USD Weighs

By John Noonan  —  Mar 22 - 10:57 PM
  • AUD/USD continues to move lower in sympathy with the slumping NZD/USD

  • AUD/USD opened flat at 0.7745 and has traded as low as 0.7709

  • Heading into the afternoon it is around the session low

  • NZD/USD leading the way after NZ government announced measures to cap home prices nL1N2LK2NX

  • NZD/USD fell through the session and fell 1.0% to below 0.7100

  • Fall in NZ bond yields due to the housing investor tax weighed on NZD

  • AUD/USD buyers ahead of 0.7700 underpinning price action for now

  • AUD/NZD buying helping as well with the cross up 0.55% on the day

  • AUD/USD support at yesterday's 0.7689 low and double-bottom at 0.7620/25

  • Resistance is at the 10-day MA at 0.7755 and break would ease pressure

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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