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Jun 09 - 07:55 PM

AUD/USD - Opens Below Key Support After Steep Slide On Risk Aversion

By John Noonan  —  Jun 09 - 06:50 PM
  • AUD/USD opens- 1.28% after Wall Street and metals slumped and US yields rose nL1N2XW2RLnL1N2XW0I6nL1N2XW2AK

  • Partial lockdowns in China due to COVID spike also weighs on AUD sentiment

  • AUD/USD closed below key support @ 0.7105/10 - to confirm end of uptrend

  • The 0.7105/10 window contained the 21-day MA and 38.2 of 0.6822/0.7282

  • The 21-day MA ascends to 0.7113 today and is now resistance

  • The next support is at the 50% retracement of that move at 0.7055

  • Market will focus on developments in China and impact on commodities nL1N2XW01L

  • Risk assets on edge ahead of US CPI later today and outcome will impact AUD

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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