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Apr 29 - 01:55 AM

AUD/USD - Rally Extends On Carry Trade Demand And Broad USD Selling

By John Noonan  —  Apr 28 - 11:55 PM
  • AUD/USD opened +0.23% at 0.6533 as AUD best performing major currency Friday

  • Rally extended in Asia as carry demand and broad USD weakness underpinned

  • Asian equity markets upbeat and helped to encourage AUD carry trade buying nL1N3H203A

  • AUD/USD traded above the 38.2 of the Dec-April fall at 0.6556

  • The high in Asia so far has been 0.65698 and its around 0.6560/65

  • Support is at the 200-day MA at 0.6525 and 21-day MA at 0.6505

  • FOMC decision on Wednesday may limit large directional move in meantime

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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