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Mar 11 - 07:55 PM

AUD/USD - Opens Lower As US Yields Firm Before US CPI

By John Noonan  —  Mar 11 - 06:00 PM
  • AUD/USD opens -0.18% after a quiet US session

  • USD broadly firmed on higher US yields with USD/JPY the exception nL2N3FP1VNnL2N3FP1LW

  • AUD/USD traded down to 0.6597 before Wall Street recovered from early lows

  • It is trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 0.6557 and break would warn a top is forming

  • Resistance is at Friday's 0.6667 high where selling is tipped

  • Key resistance is at the 61.8 of the Dec-Feb fall at 0.6707

  • NAB business survey out today, but unlikely to move markets

  • Market is looking ahead to US CPI later today

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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