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Jun 02 - 05:00 PM

AUD/USD - Surges On Global Economic Recovery Signs; RBA Meets

By Krishna K  —  Jun 01 - 06:45 PM
  • AUD/USD opens 1.9% higher as economic data from U.S., China boosts sentiment

  • Economic recovery hopes offset jitters over U.S civil unrest, U.S-China ties

  • Easing of lockdowns in Australia, hopes of more govt stimulus fuel rally

  • Commodities rally quickens gains; copper @ 3-month high, Dalian iron ore +6%

  • RBA meets Tuesday, expected to sound upbeat on economic recovery prospects

  • Strong resistance 0.6823,50% of 2018-2020 drop; break opens 100-WMA @ 0.6924

  • Support 0.6740-50, 0.6710-20, pivotal at 0.6675-85


Source:
Refinitiv IFR Research/Market Commentary

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