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Apr 08 - 08:55 AM

AUD/USD - Key Support Close To Breaking With Help From US Rates

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

  • For more click on FXBUZ


audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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