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Jun 10 - 01:55 AM

AUD/USD - Edges Higher After Asian Markets Settle

By John Noonan  —  Jun 09 - 11:50 PM
  • AUD/USD opened -1.28% at 0.7097 after equities and commodities cratered nL1N2XW2RLnL1N2XW0I6

  • It traded to 0.7085 early when early Asian markets fell sharply

  • Markets settled off the early lows and AUD/USD drifted higher

  • Heading into the afternoon AUD/USD is trading near the session high @ 0.7107

  • Resistance is at the 21-day MA at 0.7114 and break eases pressure

  • More resistance is at the 10-day MA at 0.7184 with sellers ahead

  • Support is at the 50% of the 0.6829/0.7282 move at 0.7055

  • More support at the 61.8 of that move at 0.7002

  • Bias is for lower as risk assets likely to remain under pressure

  • Key later today will be bond and equity market reaction to US CPI

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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