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Apr 07 - 08:55 AM

AUD/USD - Fed Effect Lingers, Key Supports Are Threatened

By Christopher Romano  —  Apr 07 - 07:25 AM
  • High beta currencies feel Fed minutes effects, they're lower vs US$

  • AUD/USD hits a 4-session low, trades 0.74745, opens NY just above that low

  • Lower Aussie yields AU3YT=RR, AUD/JPY drop below 92.50 weigh on AUD/USD

  • USD/CNH rally near 6.3690, copper & iron-ore drops also weigh on AUD/USD

  • Top of trend line off Feb 2021 high, 0.7440/70 support now threatened

  • Drop below 10-DMA, falling daily RSI highlight downside risks for AUD/USD

  • Daily inverted hammer, monthly gravestone doji reinforce bearish techs

  • Should supports break 0.7360/70 & 200-DMA (@0.7299) are in play

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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