AUD/USD reverses course below 0.6700 after hitting resistance at 200-day EMA AUDUSD Majors Currencies
from the United States , alongside a hawkish tone of US Federal Reserve officials, were the driving factors of AUD/USD’s price action. The AUD/USD is trading at 0.6698, down 1.26%.Sentiment remains deteriorated. USin March dropped 1% MoM, disappointing analysts and indicating a sharper contraction than the anticipated 0.4%. Annual data for the month was 2.9%, falling short of the previous month’s 5.9%.
Following the UoM report, the AUD/USD extended its losses, as shown by US Treasury bond yields pushing higher, while the US Dollar jumped from new two-week lows of around 100.788, as portrayed by theOn the Australian front, a solid employment report crushing estimates of 20K, at 53K in March, suggests that although the Reserve Bank of Australia paused hiking, the RBA might resume its campaign as the Unemployment Rate dipped to 3.5% from 3.6%.
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