By Christopher Romano — Apr 12 - 11:50 AM
AUD/USD rallied above the 10- & 21-DMAs after US March CPI data
Risk assets rallied as US rates SRAU3, US$ fell sharply
AUD/USD neared the April 6 daily high, hit 0.67225 then slide
Rate, US$ losses eroded and stocks turned negative on the session
AUD/USD fell below the 10- & 21-DMAs & below the April 11 daily high
A daily inverted hammer candle formed and a monthly doji is in place
AUD/USD longs need risk-on sentiment to intensify to gain more control
Fed minutes of March 21-22 meeting, US PPI & retail sales risks loom
If risk-off results from those events AUD/USD may near the March low
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Source:
Refinitiv IFR Research/Market Commentary