By Christopher Romano — Apr 14 - 12:00 PM
AUD/USD rallied near the converging 10- & 21-DMAs overnight, sellers emerged
Drop in Aussie 3-yr yield AU3YT=RR help pair drift lower in Europe
Slide intensifies in NY as Fed hawkishness remain intact nL2N2WC1DH
Rising US yields US2YT=RR, rates EDM3 help propel the US$ higher
AUD/USD dips below 0.7400, halts short of Wednesday's low, bounces meagerly
Short-term structural support in the 0.7370 area remains vulnerable
Daily, monthly RSIs are falling, aren't oversold, downside momentum intact
10-DMA about to cross below the 21-DMA, reinforces bearish techs when occurs
Break of support targets the 55- & 200-DMAs and the daily cloud top
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Source:
Refinitiv IFR Research/Market Commentary