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AUDUSD Bullish Trend Continues

AUD

Aussie outperformed on Wednesday on continued robust risk sentiment with equities trading higher through much of the day. AUDUSD traded above 66c throughout the day finding support at that level. The pair rose to a high of 0.6635 and is now up 0.2% to 0.6622. The USD index is down 0.1%.

  • The break of resistance at 0.6595 strengthened a bullish theme and the outlook is positive. Initial resistance is at 0.6668, March 8 high, and support at 0.6561, 50-day EMA.
  • Aussie is up 0.3% against the yen to 97.83, close to the intraday high of 97.96. AUDNZD is 0.2% higher at 1.0755. AUDEUR range traded and is at 0.6048 and AUDGBP is up 0.2% to 0.5174.
  • Equity markets were mixed with the S&P trading higher and then finishing down 0.2% but the Euro stoxx rose 0.4%. VIX is slightly lower at 13.1%. Oil prices rose strongly with Brent up 2.4% to $83.90/bbl. Copper is 3.2% higher and iron ore is around $106/t.
  • There are no data or events in Australia today.
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