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Apr 30 - 07:55 PM

AUD/USD - Opens Sharply Lower As US Yields Soar On Hot US ECI Reading

By John Noonan  —  Apr 30 - 06:55 PM
  • AUD/USD opens -1.43% after USD broadly rose following hot US ECI nL1N3H32MN

  • Risk assets clobbered as market fears Fed may turn more hawkish nL4N3H35MB

  • AUD weakened against most currencies as key commodities also fell hard nL8N3H331T

  • AUD/USD closed below 10-day MA (0.6483) to increase downward pressure

  • Next support is at the 61.8 of the April rise at 0.6448

  • A clear break below 0.6445 puts the trend low at 0.6362 back in focus

  • Resistance is at the 10-day MA at 0.6483 and 21-day MA at 0.6504

  • AUD/USD likely to consolidate losses ahead of key FOMC decision Wednesday

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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