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Apr 07 - 01:55 AM

AUD/USD - Grinds Lower As Cross Flows Weigh

By John Noonan  —  Apr 06 - 11:55 PM
  • AUD/USD opened -0.87% at 0.7509 after sliding after hawkish Fed minutes

  • It raded to 0.7519 early before tracking lower the rest of the session

  • EUR/AUD buying and AUD/JPY selling helped to push the AUD/USD lower

  • Gloomy risk sentiment in Asia also weighed - as AXJ index fell over 1.0%

  • Hawkish RBA pivot fading as a factor while ever hawkish Fed takes hold

  • AUD/USD is trading at session low at 0.7480 into the afternoon

  • Support is at the 38.2 of the 0.7265/0.7661 move at 0.7472

  • Key support is at the 21-day MA at 0.7433 as break would suggest a top is in place

  • A weekly close below 0.7455 would complete a bearish outside week from a trend high

  • Resistance is at yesterday's 0.7593 high and break shifts pressure to the topside

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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