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Apr 09 - 07:55 PM

AUD/USD - Opens Higher As Lower US Yields And Iron Rise Underpin

By John Noonan  —  Apr 09 - 06:20 PM
  • AUD/USD opens +0.35% after hitting a one-month high at 0.6644

  • Rising iron ore price and lower US yields encouraged AUD buying on crosses nL2N3GI0DYnL2N3GI1T9

  • AUD/USD resistance is at March 8 high at 0.6667 with sellers ahead of 0.6650

  • Support is at 0.6560/65 where the 10 & 21-day MAs converge

  • AUD/USD trending higher as 5, 10 & 21-day MAs move into bullish alignment

  • Bias is for higher while 0.6560 holds on dips

  • Key US CPI later today will likely determine if trend higher can sustain

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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