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Apr 08 - 08:55 AM

AUD/USD - Ceasefire Deal Gives Bulls Traction

By Christopher Romano  —  Apr 08 - 07:10 AM

• AUD/USD rallied to a 13-session high on news US-Iran reach 2-week ceasefire

• Pair rallied above the 21- & 55-DMAs and the daily cloud top, traded 0.6969-0.7084

• US$ sold broadly as its safe-haven status waned, US yield drop added weight on US$

• AUD/USD rally aided by oil , USD CNH drops & rallies in stocks, gold & silver

• US$ firmed up a bit in Europe, AUD/USD opened NY near 0.7040, up +0.86%

• Rising RSIs, move above many DMAs & daily cloud give techs a bullish lean

• February's monthly high is a key impediment for AUD/USD bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters
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