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Apr 26 - 07:55 PM

AUD/USD - Opens Lower As Market Risks And Yield Spreads Weigh

By John Noonan  —  Apr 26 - 07:00 PM
  • AUD/USD opens -0.32% as AUD underperformed due in part to risk aversion

  • Rekindled banking fears and looming US debt ceiling crisis weighing on risk nL4N36T37XnL1N36S3FW

  • AUD/USD alos weighed down by diverging central bank expectations

  • Market pricing in less than 10% chance of RBA hike next week

  • Market pricing in 76% chance of a Fed hike next week

  • AUD/USD trending lower with 5, 10 & 21-day MAs in bearish alignment

  • Resistance is at the 10-day MA at 0.6682 and 21-day MA at 0.6695

  • Support is at the March 10 trend low at 0.6564

  • Bears in charge while the 10 & 21-day MAs contain rallies

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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