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Mar 22 - 11:55 PM

AUD/USD - Recovers From Early Dip As Risk Buoyant In Asia

By John Noonan  —  Mar 22 - 11:10 PM
  • AUD/USD opened +0.95% at 0.7470 after AUD/JPY demand underpinned

  • AUD/USD dipped to 0.7450 in early Asia on profit taking by longs

  • AUD/JPY demand persisted and cross traded to a 6-year high at 90.60

  • The buying helped AUD/USD 0.7470 into the afternoon

  • AUD benefiting from investors seeking carry trade returns

  • AUD/USD trending higher with the 5, 10 and 21-day MAs in a bullish alignment

  • Only a break below 10-day MA at 0.7345 would warn of sagging momentum

  • Overbought technical conditions may limit gains in immediate term

  • Resistance is at the 50% of the 0.8007/0.6957 move at 0.7487

  • For more click on FXBUZ









aud/usd Click here

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Source:
Refinitiv IFR Research/Market Commentary

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