By Christopher Romano — Apr 08 - 07:30 AM
AUD/USD rallied into +ve territory overnight, 0.74925 hit but drop ensues
US rates EDM3 rise, AussieAU3YT=RR-USUS3YT=RR spreads widen
Iron-ore DCIOc2 drops while USD/CNH CNH= rallies just above 6.3700
AUD/USD falls to 0.7457 and threatens to break through key supports
The 21-DMA, March 7 high, March 23 low sit in the 0.7439/51 zone
Falling daily, monthly RSIs imply downside momentum is in place
Break of the support zone likely triggers stops, 0.7360/75 then targeted
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Source:
Refinitiv IFR Research/Market Commentary