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Apr 30 - 11:55 PM

AUD/USD - Moves Higher On Cross Flows As Weak China PMI Ignored

By John Noonan  —  Apr 30 - 11:30 PM
  • AUD/USD opened 0.6617 after falling 0.20% Friday when USD firmed

  • After trading 0.6608 AUD/USD tracked higher late morning on cross buying

  • AUD/NZD recovered 0.28% after falling close to 2.0% last week

  • AUD/JPY buying also underpinned - as the cross rose around 0.50%

  • The AUD/USD is at a session high above 0.6630 heading into the afternoon

  • Market shrugged off weaker than expected China PMI released on Sunday nL1N36X0GU

  • AUD/USD support is at the March 10 and 2023 low ar 0.6564

  • Resistance is at the 10-day MA at 0.6668 and 21-day MA at 0.6688

  • Market may remain in hold ahead of RBA decision tomorrow

  • Market is expecting the RBA to remain on hold, but there are risks nL4N36Y01W

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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