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Jun 22 - 01:55 AM

AUD/USD - Slides As Commodities Lead Risk Assets Lower

By John Noonan  —  Jun 22 - 12:05 AM
  • AUD/USD opened +0.24% at 0.6971 and came under pressure early from ToKyo AUD/JPY selling

  • Around mid-morning the mood turned negative in Asia led by sliding oil price nL4N2Y83GA

  • Other commodities started to fall with Dalian iron ore falling over 4.0%

  • Asian equities got hit as well with the AXJ index falling 1.3%

  • AUD/USD kept moving lower and traded down to 0.6916 before settling

  • Heading into the afternoon it is trading around 0.6925

  • Bids are tipped around 0.6900 with support at the June 15 low at 0.6850

  • Resistance is at the 10-day MA at 0.6978 and a break would ease the pressure

  • Fed Chair Powell testimony later today will likely dictate direction

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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