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May 18 - 07:55 PM

AUD/USD - Opens Over 1.0% Lower As Investors Flock To Safe-Haven

By John Noonan  —  May 18 - 06:15 PM
  • AUD/USD opens 1.05% lower after completing a bearish outside day

  • Global growth fears intensify after retailer Target's gloomy earnings report nL2N2XA2TU

  • Investors flock to safe-haven as AUD/JPY falls close to 2.0%

  • AUD/USD closed below 10-day MA (0.6977 Wednesday) to reinforce down-trend

  • Initial target is the May 12 trend low at 0.6829

  • The 10-day MA descends to 0.6961 and is now close resistance

  • More resistance is at the 21-day MA at 0.7063 with sellers ahead of 0.7000

  • Aus April jobs data today with the market looking for +30 K and 3.9% unemp

  • AUD/JPY flows out of Tokyo key after the near 2% fall

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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