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Jun 01 - 07:55 PM

AUD/USD - Resilient In The Face Of Firming USD And Higher US Yields

By John Noonan  —  Jun 01 - 06:40 PM
  • AUD/USD opens unchanged around 0.7175 despite firm USD and rising US yields nL1N2XO1W0nL1N2XO1I5

  • Stronger commodity prices helped to underpin AUD against USD, JPY and EUR nL1N2XO0I6

  • AUD/USD was whippy and fell after testing 100-day MA around 0.7230

  • The subsequent fall validates the 100-day MA as decent resistance

  • More resistance is at the key 200-day MA at 0.7258

  • AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 0.7134 and break would suggest top is forming

  • Australia trade data today, but unlikely to have impact on AUD/USD

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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