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Apr 04 - 01:55 AM

AUD/USD - Continues Recovery In Asia As Risk Appetite Improves

By John Noonan  —  Apr 03 - 11:10 PM
  • AUD/USD opened +0.74% at 0.6565 after USD broadly eased as US yields dipped nL2N3GC1WH

  • Asia was risk-on as the Nikkei surged 1.65% and AXJ index rose 0.35%

  • This encouraged more AUD/USD buying and it moved up to 0.6582

  • Heading into the afternoon it was trading at 0.6575/80

  • The close above the 21-day MA (0.6560) ends the trend lower

  • It suggests there is a bottom in place at 0.6481

  • Resistance is at daily highs formed between 0.6630/40 where sellers tipped

  • Support is at 10-day MA at 0.6530 and break would put pressure on downside

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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