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Apr 25 - 08:55 AM

AUD/USD - REFILE-BUZZ-AUD/USD-Safe-Haven Bids, China Worries Put 0.7100 In Play

By Christopher Romano  —  Apr 25 - 07:25 AM

Adds line regarding yuan weakness, USD/CNH

  • Rising COVID cases drive some lockdowns in Beijing, China nL3N2WN02V

  • Investors concerned restrictions will severely impact global growth

  • China's yuan weakens further, USD/CNHCNH= neared 6.6100 before dipping

  • Iron-oreDCIOc2, copperHGv1, oilLCOc1, equitiesESv1 fall sharply

  • Bond yields US10YT=RRUS2YT=RR drop as investor seek safer assets

  • Safe-havens US$, yen rally, AUD/JPY nears 91.52, AUD/USD sinks to 0.7145

  • AUD/USD below daily cloud base, 61.8% Fib 0.6968-0.7661,; RSIs dropping

  • 76.4% Fib of 0.6968-0.7661, Feb 25 daily low are immediate supports

  • Psychological 0.7100 level, Jan 2022 monthly low are supports thereafter

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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