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May 12 - 07:55 PM

AUD/USD - Opens Lower After Hot US CPI Accelerates Risk Sell-Off

By John Noonan  —  May 12 - 06:15 PM
  • AUD/USD opens 1.47% lower after a hot US CPI sent risk assets plunging lower nL1N2MZ15U

  • Safe-haven USD rose across the board, as US Treasury yields spiked higher nL1N2MZ2JM

  • Fears that Fed is behind the inflation curve is unnerving investors

  • AUD/USD poised above 100-day MA at 0.7720 and 55-day MA at 0.7715

  • Break below 0.0.7700 targets the 61.8 of the 0.7532/0.7891 move at 0.7669

  • A Friday close below 0.7675 would complete a bearish outside week

  • Resistance is at the 21-day MA at 0.7761 and 10-day MA at 0.7769

  • AUD/USD vulnerable as market digests liquidity implications from higher inflation

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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