MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Corrective Pullback Extends

AUDUSD TECHS
  • RES 4: 0.7245 2.00 proj of the Nov 21 - Dec 13 - Dec 20 price swing
  • RES 3: 0.7202 High Jun 9
  • RES 2: 0.7172 1.764 proj of the Nov 21 - Dec 13 - Dec 20 price swing
  • RES 1: 0.7082/0.7158 High Feb 3 / 2 and the bull trigger
  • PRICE: 0.6925 @ 08:13 GMT Feb 6
  • SUP 1: 0.6873 50-day EMA
  • SUP 2: 0.6781 38.2% retracement of the Oct 13 - Feb 2 uptrend
  • SUP 3: 0.6728 Trendline support drawn from the Oct 13 low
  • SUP 4: 0.6688 Low Jan 3

The AUDUSD uptrend remains intact, however, the sharp move lower late last week highlights a correction that is allowing a recent overbought condition in the trend to unwind. Price is approaching support at 0.6875, the 50-day EMA, where a break would signal scope for a deeper retracement. The broader uptrend remains intact. Key resistance and the bull trigger have been defined at 0.7158, the Feb 2 high.

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