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A$ Recovers From Iran Strike Dip

AUD

AUDUSD recovered all it losses following Israel’s strike on Iran on Friday. It had reached a low of 0.6363 on the news but then was at 0.6425 early in the European session and reached a high of 0.6433 in NY trading. It closed down 0.1% at 0.6418 and has started the week at 0.6421. The USD index rose 0.1%.

  • AUDUSD remains vulnerable with the downtrend resuming and short-term gains seen as corrective. Initial support is at 0.6363, April 19 low, and resistance at 0.6481, April 1 low.
  • AUDGBP rose 0.5% to 0.5188 after trading around 0.5150-0.5160 through most of the European session. AUDEUR fell 0.2% to 0.6022 though. AUDNZD rose 0.2% to 1.0899 after a high of 1.0906. The pair has started today at 1.0895. AUDJPY fell 0.1% to 99.25 and is currently around 99.26.
  • Equities were mixed with the Euro stoxx down 0.4% but the FTSE up 0.2%, and the S&P down 0.9% but the Dow Jones up 0.6%. Oil prices were moderately higher with WTI up 0.6% to $83.24/bbl. LME metal prices rose 2% on Friday to be up 5.3% on the week. Iron ore is around $116/t.
  • There are no data or events in Australia today.

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