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Jan 12 - 05:55 PM

AUD/USD - Trend Higher Back On Track After Big Gain

By John Noonan  —  Jan 12 - 05:20 PM
  • AUD/USD rose 1.0% Tuesday as USD gave back a chunk of recent gains

  • A 5 BP slide in the US 10-year yield from 1.18% to 1.13% was the catalyst

  • Earlier in the day the 10-year hit 1.18% before solid auction nL1N2JN2DK

  • AUD given boost from 1.4% rise in NY copper and 0.98% rise in EM ETF (EEM)

  • AUD/USD trend higher on track with 5, 10 & 21-day MAs in bullish formation

  • Resistance is at the Jan 6 high at 0.7819 - with sellers tipped 0.7800/10

  • Support at 10-day MA at 0.7738 and break eases upward pressure

  • General USD direction being dictated by moved in uS 10-year yield

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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