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May 12 - 01:55 AM

AUD/USD - Under Pressure As AUD/JPY Sales And Growth Fears Weigh

By John Noonan  —  May 11 - 11:40 PM
  • AUD/USD opened unchanged at 0.6940 after a whippy reaction to US CPI

  • It fell to 0.6911 early Asia when Tokyo sold AUD/JPY down 0.5% at the open

  • AUD/JPY buyers emerged ahead of 0.6900 and AUD/USD bounced back to 0.6952

  • Weak Asian equity markets limited gains and AUD/USD fell again nL2N2X4035

  • Small stops below 0.6910 were triggered and it traded to a 2-year low at 0.6905

  • Bids ahead of 0.6900 held again and it is back to 0.6920 into the afternoon

  • AUD/USD remains vulnerable as global growth concerns weigh on sentiment

  • A break below 0.6900 targets the 50% of 0.5510/0.8007 move at 0.6758

  • Resistance at 10-day MA at 0.7040 validated by yesterday's price action

  • For more click on FXBUZ









aud/usd Click here

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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