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May 11 - 07:55 PM

AUD/USD - Opens Unchanged After Volatile Session

By John Noonan  —  May 11 - 07:20 PM
  • AUD/USD opens unchanged after trading in a 0.6928/0.7053 range after US CPI

  • Whipsaw was due to big moves in US Treasury yields following the CPI nL2N2X315F

  • Hotter than expected CPI sent yields higher before they fell on growth concerns nL2N2X31QZ

  • Growth fears sent Wall Street lower after it was up early in the day nL2N2X32ZQ

  • AUD/USD rally fell short of 10-day MA - which came in at 0.7058 yesterday

  • It descends to 0.7042 today after being validated by the price action

  • Support is at Tuesday's 0.6911 low and break targets sub-0.6800

  • Global growth concerns will likely cap AUD/USD rallies as it trends lower

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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