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Jun 08 - 07:55 PM

AUD/USD - Opens Lower In Random Walk Ahead Of Key Event

By John Noonan  —  Jun 08 - 06:38 PM
  • AUD/USD opens 0.24% lower, as USD broadly strengthened

  • USD moved higher despite fall in US 10-year yield to 4-week low nL2N2NQ1TP

  • Commodity currencies underperformed despite move up in copper and iron ore nL2N2NQ0DJ

  • AUD/USD and other USD pairs seem to be on a random walk ahead of US CPI

  • Breakdown in correlations due to thin markets and need for fresh catalysts

  • AUD/USD support is at 0.7727/32 where Monday low and 10-day MA converge

  • A break below 0.7725 shifts pressure to downside

  • Resistance is at the 50% of the 0.7891/0.7646 move at 0.7768

  • China CPI and PPI out today and may impact price action

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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