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Mar 27 - 07:55 PM

AUD/USD - Quiet Start After AUD Outperforms Last Week

By John Noonan  —  Mar 27 - 06:05 PM
  • AUD/USD quiet start after closing Friday unchanged from Thursday close

  • AUD best performing major currency last week due to heavy AUD/JPY demand nL2N2VS031

  • AUD/JPY soared over 3% higher for the second straight week

  • AUD/USD resilient despite surging US Treasury yields and hawkish Fed expectations nL2N2VS2DN

  • AUD/USD support at Friday's close at 0.7495 and former resistance at 0.7440

  • Trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • A break below 0.7418 would suggest trend is losing momentum and top forming

  • Resistance is at Oct 28 trend high at 0.7555 with sellers ahead of 0.7530

  • Key will be AUD/JPY flows out of Tokyo as Japan FYE approaches nL2N2VQ035

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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