By Christopher Romano — Apr 06 - 07:20 AM
AUD/JPY, aussie yields AU3YT=RR, iron-ore DCIOc2 are up on the session
AUD/USD is down however, drop follows Tuesday's inverted hammer candle
Pair's drop aided by US US2YT=RREDU3 gains and US$ buying =USD
Investors still leaning towards aggressive rate hikes from the Fed
AUD/USD met sellers above 0.7590 overnight, NY opens near 0.7570
0.7525/40 zone is old resistance, likely turned into support
Should that support break recent longs likely exit, 0.7450 area targeted
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Source:
Refinitiv IFR Research/Market Commentary