By John Noonan — Apr 23 - 06:45 PM
AUD/USD opens +0.62% after USD broadly eased and risk rally continued nL2N3GW25WnL2N3GW34D
AUD/USD close above 10-day MA (0.6454) suggests bottom in place at 0.6362
Resistance is at the 21-day MA at 0.6504 with sellers tipped ahead of 0.6500
Key resistance is at 0.6530 where the 55 and 200-day MAs converge
The 10-day MA at 0.6454 is now support, with bids eyed at 0.6440
Key Aus Q1 CPI will be released today and could shape RBA expectations
Weighted mean is expected to ease to +4.1% Y/Y from +4.4% in Q4
A hotter than expected result could make RBA more cautions in future easing
U.S. PCE price index follows on Thursday - to provide a comparison
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary