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AUD: AUDUSD Finds Support From Ukraine News & Tests 0.6300

AUD
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AUDUSD range traded through most of Tuesday but found support following news of a US-Ukraine agreement on a 30-day ceasefire, which also drove equities. The pair rose to 0.6311 but couldn’t hold the break above 63c and eased back a bit and is currently up 0.3% to 0.6296. The USD index fell 0.4%. 

  • Key short-term resistance for AUDUSD is at 0.6409, 21 February high, and clearance of this would strengthen a bull cycle. Initial resistance is at 0.6364, 6 March high. Initial support is at 0.6259.
  • European currencies outperformed on Tuesday leaving AUDEUR down 0.4% to 0.5770 after a low of 0.5741 and AUDGBP -0.3% to 0.4860 following a trough of 0.4848.
  • AUDJPY is up 0.6% to 93.01, close to the intraday high, and AUDNZD is little changed at 1.1023 following a low of 1.1004.
  • Equities were still weaker on the day despite a late US session rally. The S&P is down 0.8% and Euro stoxx -1.4%. Oil prices are higher with Brent +1.0% to $69.96/bbl. Copper is up 2.8% and iron ore is stronger at around $102/t.
  • There are no data or events in Australia today.
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AUDUSD range traded through most of Tuesday but found support following news of a US-Ukraine agreement on a 30-day ceasefire, which also drove equities. The pair rose to 0.6311 but couldn’t hold the break above 63c and eased back a bit and is currently up 0.3% to 0.6296. The USD index fell 0.4%. 

  • Key short-term resistance for AUDUSD is at 0.6409, 21 February high, and clearance of this would strengthen a bull cycle. Initial resistance is at 0.6364, 6 March high. Initial support is at 0.6259.
  • European currencies outperformed on Tuesday leaving AUDEUR down 0.4% to 0.5770 after a low of 0.5741 and AUDGBP -0.3% to 0.4860 following a trough of 0.4848.
  • AUDJPY is up 0.6% to 93.01, close to the intraday high, and AUDNZD is little changed at 1.1023 following a low of 1.1004.
  • Equities were still weaker on the day despite a late US session rally. The S&P is down 0.8% and Euro stoxx -1.4%. Oil prices are higher with Brent +1.0% to $69.96/bbl. Copper is up 2.8% and iron ore is stronger at around $102/t.
  • There are no data or events in Australia today.