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Apr 25 - 11:55 PM

AUD/USD - Breaks Above 0.7760/65 Resistance As Iron Ore Soars

By John Noonan  —  Apr 25 - 10:40 PM
  • AUD/USD has broken above resistance at 0.7760/65 as USD broadly lower

  • AUD outperforming, as strong commodity prices underpin sentiment

  • Dalian iron ore has soared nearly 4.0% in Asia this morning

  • Next resistance @ April 20 high @ 0.7816 with sellers tipped ahead of 0.7800

  • Support is at the 10-day MA at 0.7730

  • Objective of trend higher is at the 61.8 of 0.8007/0.7532 at 0.7825

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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