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Feb 21 - 07:55 PM

AUD/USD - Consolidation Persists As Diverse Factors Hold Sway

By Krishna K  —  Feb 21 - 05:55 PM
  • AUD/USD consolidates in a 0.6530-0.6580 s/term range, awaits fresh catalysts

  • Upside capped by higher U.S. yields; 10-yr yield hovers near 2 1/2 mth high

  • Fed Jan meeting minutes caution against cutting rates too soon

  • Sliding iron ore prices weigh; Dalian iron ore drops to a near 4-month low

  • RBA's cautiously hawkish stance on rates underpins AUD

  • China stimulus optimism, positive risk sentiment, carry trade demand support

  • Support 0.6525-30, 0.6500-05, resistance 0.6570-80; Wed range 0.6572-0.6534

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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