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Mar 13 - 07:55 PM

AUD/USD - Opens Higher As Market Shrugs Off Higher US Yields

By John Noonan  —  Mar 13 - 05:45 PM
  • AUD/USD opens +0.23% despite another rise in US yields nL2N3FR1TY

  • A 3.3% rise in copper helped to broadly underpin the AUD nL5N3FR2JV

  • AUD/USD resilient despite hawkish turn in Fed outlook since Tuesday's US CPI

  • AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 0.6581 and break would warn a top is in place

  • Resistance is at last week's 0.6667 high and 61.8 of Dec-Feb fall at 0.6707

  • Range trading likely in Asia as market awaits fresh catalysts

  • US retail sales & PPI later today may stir a reaction in quiet FX market

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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