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Apr 06 - 08:55 AM

AUD/USD - U.S. Yields, Dollar Trump Normally Bullish Influences

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

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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