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Apr 19 - 07:55 PM

AUD/USD - Opens Slightly Lower As Rise In US Yields Weigh

By John Noonan  —  Apr 19 - 06:50 PM
  • AUD/USD opens -0.21% after USD was supported by rise in US yields nL1N36M1WP

  • Slip in key commodity prices also a drag on the AUD nL1N36M0QF

  • AUD/USD price action continues to pivot around the 10 & 21-day MAs

  • They converge at 0.6701 today and a close below adds to downward pressure

  • Sellers around 0.6750 continue to discourage attempts higher

  • Resistance is at the 100-day MA at 0.6799 and close above would be bullish

  • AUD/USD likely to range trade as market awaits a fresh catalyst

  • Hawkish RBA message starting to fade as support - as global yields rise

  • Bond markets continue to price in a global slowdown and market risks nL8N36G5M1nL8N36L0CC

  • Pessimistic outlooks would be very negative for AUD in medium-term

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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