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AUDUSD Hovering Around 64c As Risk Off Tone Weighs On Pair

AUD

Aussie underperformed the G10 on Tuesday apart from SEK. The general deterioration in risk appetite amid ongoing geopolitical tensions drove AUDUSD to a low of 0.6389, the weakest since mid-November. Moves below 64c were brief though and the pair is currently hovering around this level at 0.6405, down 0.6%. The USD continued to strengthen with the index up 0.4%.

  • The move below key support at 0.6443 has confirmed the downtrend in AUDUSD. The clearance of this level has opened up 0.6339, 10 November 2023 low. Initial resistance is at 0.6481.
  • Aussie fell 0.5% to 0.6032 versus the euro after a low of 0.6019. AUDGBP is down 0.4% to 0.5153 after a low of 0.5139. AUDJPY is 0.3% lower at 99.07. AUDNZD has fallen below 1.09 and is currently around 1.0882 ahead of NZ’s Q1 CPI data.
  • Equities sold off with the S&P down 0.2% and the Euro stoxx -1.4%. Oil prices were down slightly with Brent -0.1% to $90.07/bbl. Copper is down 1.8% and iron ore is around $110-111/t.
  • Later the Westpac leading index prints.
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