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Apr 07 - 07:55 PM

AUD/USD - Opens Lower After Risk Currencies Slump Against USD

By John Noonan  —  Apr 07 - 06:25 PM
  • AUD/USD opens 0.68% lower and was worst performing major currency nL1N2M02EU

  • AUD/USD also weighed won by weaker commodities and fall in EM assets nL1N2M00F4

  • Emerging market ETF fell 1.47% and NY copper fell 1.50%

  • AUD/USD close below 10-day MA (0.7621) will encourage bears

  • Buyers tipped 0.7590/0.7600 with support at April 1 trend low at 0.7532

  • Resistance at 21-day MA (0.7671) validated by Wednesday price action

  • Key in Asia will be AUD/JPY flows and AXJ equity markets

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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