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Mar 04 - 07:55 PM

AUD/USD - Opens Lower As Risk Assets Plummet After Powell

By John Noonan  —  Mar 04 - 05:42 PM
  • AUD/USD opens 0.71% lower after equities and commodities fell sharply

  • Catalyst for risk selling was rise in US yields after Powell speech nL2N2L22X8nL2N2L22T0nL2N2L2157

  • AUD/USD traded below the 55-day MA to a low at 0.7709 but didn't close below

  • The 55-day MA comes in at 0.7716 today and close below targets 0.7618

  • The 0.7618 level is the 38.2 of the 0.6990/0.8007 move

  • The 10-day MA (0.7818) is proving to be stubborn resistance

  • AUD/USD vulnerable as risk assets wobble and US yields keep rising

  • The 4.75% collapse in NY copper a warning the reflation trade is in jeopardy

  • AUD/USD has been supported by AUD/JPY buying out of Tokyo in recent days

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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