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Mar 12 - 11:55 PM

AUD/USD - Consolidates Above 0.6600 In Quiet Asia

By John Noonan  —  Mar 12 - 11:05 PM
  • AUD/USD opened -0.12% at 0.6606 after a whippy reaction to US CPI

  • In a deadly quiet Asian session AUD/USD traded in a 0.6601/12 range

  • Heading into the afternoon it is trading at the session high

  • AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 0.6568 and break would earn of top forming

  • Resistance at last week's 0.6667 high and 61.8 of the Dec-Feb fall @ 0.6704

  • Fall in iron ore helping to cap rallies - Dalian fell another 1.3% today

  • AUD/USD needs to trade above 0.6670 soon to maintain upward momentum

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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