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May 04 - 01:55 AM

AUD/USD - Moves Higher In Asia Ahead Of Fed Decision

By John Noonan  —  May 03 - 11:45 PM
  • AUD/USD opened +0.62% after outperforming due to aggressive RBA hike

  • Goldman call that RBA will hike 50 BP in both June & July underpinned

  • AUD/USD traded above 0.7100 and received added boost from better Aus retail sales nAZN02G042

  • It traded above 0.7110 and traded to a session high at 0.7117

  • Heading into the afternoon it is settled around 0.7110

  • Resistance is at 0.7145/50 where yesterday's high and 10-day MA converge

  • A break above 0.7150 would suggest a bottom is forming

  • Support is at Monday's 0.7030 low with bids ahead of 0.7000

  • Fed decision later today likely to be catalyst for next move

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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