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Apr 08 - 07:55 PM

AUD/USD - Solid Gain As Carry Trade And Iron Ore Surge Underpin

By John Noonan  —  Apr 08 - 07:15 PM
  • AUD/USD opens +0.40% after getting support from carry trade flows & iron ore

  • AUD/JPY rose 0.53% while AUD/CHF gained 0.61% since Friday's close

  • Singapore iron ore soared over 6% to give the AUD an added boost nL2N3GH0F7

  • AUD/USD resistance is at the April 4 high at 0.6619 with sellers 0.6630/40

  • Support is at 0.6550/60 where the 10 & 21-day MAs converge

  • A break below 0.6550 would shift the pressure back to the downside

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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