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Apr 26 - 08:55 PM

AUD/USD - Opens Lower But Firm Commodities Cushion Fall

By John Noonan  —  Apr 26 - 06:50 PM
  • AUD/USD opens -0.77% as USD and JPY firmed while Wall Street crumbled nL2N2WO2TV

  • High-beta assets such as tech stocks and Bitcoin were hardest hit

  • AUD pressured by high-beta selloff, as it prospered when they were in demand

  • AUD/USD losses may have been worse if key commodities didn't firm on the day nL2N2WO055nL2N2WO0J1nL3N2WO24L

  • AUD/USD closed just below the 76.4 fibo of the 2022 low/high at 0.7131

  • Minor support is at the Feb 24 spike low at 0.7094

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

  • Resistance is at former support at 0.7230/35 and 200-day MA at 0.7291

  • Aus CPI today with trimmed mean and weighted mean expected to come in at 1.1% and 1.2% Q/Q respectively

  • A hot CPI report would cement expectations of a June rate hike

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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