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Jun 13 - 08:55 AM

AUD/USD - Rate Gains, Growth Concerns Help Put Key Support In Focus

By Christopher Romano  —  Jun 13 - 07:10 AM
  • US rates EDM3 rally sharply as higher terminal Fed rate is priced in

  • Hot running inflation drives global yields DE2YT=RRAU3YT=RR higher

  • Yields, China COVID lock downs nL1N2Y00DU stoke concerns of slower growth

  • EquitiesESv1, copperHGv1, iron-oreDCIOc2 drop on prospect of weak GDP

  • Risk sours, U$ & yen gain; USD/CNH pierced 6.7730, AUD/JPY fell toward 93.70

  • AUD/USD hit a 17-session low after breaking the 61.8% Fib of 0.6829-0.7282

  • 0.6964 traded in early NY and almost no bounce off the low is seen

  • Key 0.6935/45 zone in focus; 76.4% Fib 0.6829-0.7282, May 19 low sit there

  • Break of that support should trigger stop selling, target May monthly low

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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