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Apr 01 - 07:55 PM

AUD/USD - Opens Lower As US Yields Rise On Hot US Data

By John Noonan  —  Apr 01 - 06:10 PM
  • AUD/USD opens -0.40% after US yields and USD rose on strong ISM Mfg data nL2N3GA14W

  • Market pricing in "Fed higher for longer" as June Fed cut hopes fade

  • RBA minutes today will likely confirm move towards a neutral bias

  • AUD/USD trending lower with 5, 10 & 21-day MAs in a bearish alignment

  • Resistance is at the 10-day m at 0.6529 and 21-day MA at 0.6556

  • Support at March 5 low at 0.6477 and Feb 13 trend low at 0.6443

  • Selling rallies to 0.6530/50 is the favoured strategy

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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