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Jun 02 - 02:55 AM

AUD/USD - Drops On S/Loss Selling As Risk Aversion Grips Asia

By Krishna K  —  Jun 02 - 01:50 AM
  • AUD/USD down 0.45% in Asia as traders target stops below 0.7150

  • Weighed down by risk aversion as inflation and recession concerns hit stocks

  • Higher U.S. yields, Fed's balance sheet reduction underpin USD

  • Australia trade data better than expected but taken in stride nAZN065606

  • Focus shifts to U.S. jobs data Fri and RBA meeting rate meeting Tuesday

  • Stronger than expected GDP Wed has raised expectations of 40 bps rate hike

  • Support 0.7130-35, 0.7090-0.7100, resistance 0.7190-95, 0.7225-30

  • For more click on FXBUZ


aud/usd: Click here

Source:
Refinitiv IFR Research/Market Commentary

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