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May 24 - 07:55 AM

AUD/USD - Weighed Down By Commodity Price Losses

By Rob Howard  —  May 24 - 05:35 AM
  • AUD/USD drop to 0.6567 influenced by iron ore and copper price losses

  • 0.6567 is lowest level since March 10 (0.6565 was low that day)

  • Support points below the March low include 0.6547 and 0.6500

  • 0.6600 (former support point) is now a resistance level

  • AUD/NZD up to 1.0723 (one-week high) on RBNZ's dovish 25 bps hike

  • RBA expects smooth unwinding of balance sheet nL1N37L0FT

Source:
Refinitiv IFR Research/Market Commentary

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