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Mar 03 - 10:55 PM

AUD/USD - Moves Higher Despite Asian Equity Sell-Off

By John Noonan  —  Mar 03 - 10:03 PM
  • AUD/USD opened 0.7775 and eased to 0.7753 when E-minis opened 0.3% down

  • AUD/USD settled around 0.7760 when Aus retail sales and trade data released

  • Trade data was strong while retail sales was slightly lower than expected nAZN0MWU00nAZN0NWU00

  • AUD/USD moved higher after the data with AUD/JPY demand out of Tokyo helping

  • Oddly - AUD/USD traded to 0.7792 while Asian equity market slide accelerated

  • AXJ equity index was down around 1.8% while the AUD/USD hit session high

  • Talk in market that Japanese retail bought AUD/JPY and caught market short

  • Heading into the afternoon the AUD/USD is just below high at 0.7785/90

  • Resistance is at 10-day MA at 0.7839 while support at 55-day MA at 0.7714

  • Key later today will be bond market reaction to Powell speech

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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