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Apr 28 - 01:55 AM

AUD/USD - Slips Lower As Soft Aus CPI Added Weight

By John Noonan  —  Apr 27 - 11:43 PM
  • AUD/USD opened 0.45% lower at 0.7767 - as AUD underperformed

  • It was easing towards 0.7750 before the Aus CPI release

  • Aus CPI came in surprisingly weak and the AUD/USD fell below 0.7730 nL4N2ML004

  • AUD/USD move lower was encouraged by a 7 BP fall in Aus 10-year yield

  • The break below the 10-day MA at 0.7747 targets the 21-day MA at 0.7689

  • Resistance at 0.7815/25 has been validated by recent price action

  • Key later today will be the US bond market to FOMC meeting later today

  • If US yields move higher on an upbeat Fed - USD will likely firm

  • AUD/USD would be vulnerable, as less dovish Fed would hit risk assets

  • If Fed strikes a decisively dovish tone - USD selling should resume

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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