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May 12 - 07:55 PM

AUD/USD - Slides As Risk Assets Take A Beating

By Krishna K  —  May 12 - 06:50 PM
  • AUD/USD declines 1.2% Thursday as risk aversion grips global markets

  • World shares sink on inflation, economic fears; S&P 500 nears bear market

  • Metals slide; London copper drops below $ 9000 to 7-month low before bounce

  • China's COVID-related lockdowns add to global growth concerns, weigh on AUD

  • AUD/JPY selling undermines as sizable short JPY positions unwound

  • Support 0.6830-35, 0.6800-05,0.6759,50% Fib of 0.5510-0.8007 rise in 2020-21

  • Resistance 0.6910-15,0.6945-50; AUD/JPY, Asia stock markets to dictate moves

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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