By John Noonan — Apr 16 - 07:00 PM
AUD/USD opens -0.67% as USD broadly firmed on higher US yields nL2N3GP26DnL2N3GP2OU
AUD worst performer as metals fell after weaker China monthly China data nL2N3GP0MR
AUD/USD traded to a 5-month low at 0.6389 before finding bids
Minor support at a Nov 2023 weekly low at 0.6352 where more buying tipped
AUD/USD trending lower with the 5, 10 & 21-day MAs in bearish alignment
Objective of trend lower is the Oct 26 trend low at 0.6271
Resistance is at the 10-day MA at 0.6516 with sellers ahead of 0.6450
Downward momentum to persist while sentiment decidedly bearish
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary