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Mar 12 - 07:55 PM

AUD/USD - Opens Only Slightly Lower Despite Rise In US Yields

By John Noonan  —  Mar 12 - 06:15 PM
  • AUD/USD opens -0.12% in a volatile reaction to hotter US CPI nL2N3FQ1WY

  • US yields jumped after US CPI and AUD/USD fell to 0.6583 as USD firmed nL2N3FQ2CG

  • It then whipped between 0.6635 and 0.6590 before settling around 0.6605

  • AUD/USD was supported by Wall Street rally and AUD/JPY buying nL2N3FQ35J

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

  • Support is at the 10-day MA @ 0.6567 and a break would warn a top is forming

  • Resistance is at last week's 0.6667 high and 61.8 of Dec-Feb fall at 0.6707

  • Key in Asia will be flows in AUD/JPY out of Tokyo after 0.45% rise

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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