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The AUD has continued its recent bout of.....>

AUSSIE
AUSSIE: The AUD has continued its recent bout of underperformance following the
well discussed evaporation of its 10-Year yield premium over the US (the
differential currently sits around a 6bp discount) and heavy use of moderate to
cautious language from the RBA surrounding inflation. 
- The AUDUSD now sits just below 0.80, while the AUDNZD cross sits just above
1.0650.
- Downside levels for the AUDUSD include the Feb 9 low of 0.7759, 0.7744 the
61.8% retracement of the $0.7502-0.8136 move & 0.7654 the low from Dec 21.
- For the AUZNZD the July 31 low of 1.0588 offers the next major technical
support level.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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