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Apr 25 - 07:55 PM

AUD/USD - Opens Higher After Volatile Reaction To US GDP

By John Noonan  —  Apr 25 - 06:50 PM
  • AUD/USD opens +0.32% after a whippy trading day that ended with USD easing

  • It whipped between 0.6539/0.6486 in the aftermath of mixed US GDP nL2N3GX390

  • Market torn between weak US growth & higher US yields due to high inflation

  • AUD/USD may remain elevated in Asia as E-Minis +0.80% in after hours

  • It floows Strong after the bell reports from Alphabet and Microsoft nL3N3GY5L3nL6N3GY0LO

  • AUD/USD traded above the 200-day MA (0.6526) but failed to close above

  • A close above 0.6530 targets April 9 high at 0.6644

  • Support is at the 10-day MA, which comes in at 0.6459

  • Upside may be limited if Asia follows weak Wall Street lead

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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