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May 09 - 07:55 PM

AUD/USD - Opens Much Lower As AUD Falls Across The Board

By John Noonan  —  May 09 - 06:30 PM
  • AUD/USD was smashed 1.74% lower and opens at fresh 2022 lows

  • Deleveraging sent equities and commodities into a tailspin as growth fears mount nL2N2X10DOnL2N2X12JW

  • Investors are scrambling out of reflation trades that included short EUR/AUD

  • AUD/USD break below Jan 2022 low at 0.6967 has provides downward momentum

  • The next support of note is at the 50% of the 0.6610/0.8007 move at 0.6758

  • Only a close above the 10-day MA at 0.7077 would relieve downward pressure

  • AUD to trend lower while market seeks safe-haven and liquidates risk assets

  • For more click on FXBUZ









aud/usd Click here

aud/usd 2 Click here

Source:
Refinitiv IFR Research/Market Commentary

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