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Gains Continue

AUD

AUD/USD continues to climb, now up 30 pips at 0.7768, rising above the April 22 high, which brings the April 19 high at 0.7782 and April 20 high at 0.7816 into focus which is seen as a key bull trigger.

  • The greenback has extended losses, DXY plumbing the lowest levels since early March. Some support seen at the March 3 low of 90.632, more significant support at the psychological 90 figure and the 2021 low of 89.209.
  • Also helping support AUD is iron ore, futures in Singapore have hit the highest levels since 2013 while Dalian iron ore futures are up around 4%.
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