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Mar 25 - 07:55 PM

AUD/USD - Bears Dictate Terms With Key Support In Crosshairs

By Krishna K  —  Mar 25 - 06:28 PM
  • AUD/USD opens unchanged after surviving test of support at 0.7564, 2021 low

  • Maintains sequence of lower highs and lower lows from 0.7849, March 18 high

  • 0.7614-0.7564 range seen Thurs, lack of bounce reinforces bearish sentiment

  • Drop in commodity, metal prices undermines ; copper falls to near 3-week low

  • Shrinking yield spreads between AU 10-year bonds and U.S.10-year note weigh

  • Tepid risk appetite, optimism on U.S economic recovery continue to boost USD

  • Clear break of 0.7564 opens 0.7500-17, resistance 0.7615-25

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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