Biz yalnızca bir aracı kurumdan fazlasıyız. Analiz etmek, işlem yapmak ve büyümek için ihtiyacınız olan her şeyi tek bir yerde sunan, hepsi bir arada bir işlem ekosistemiyiz. İşlem deneyiminizi bir üst seviyeye taşımaya hazır mısınız?
• Slightly better Chinese PMI/bullish commodity prices prompt some short-covering move.
• A modest USD retracement offsets an uptick in the US bond yields and remains supportive.
• Investors now eye the highly anticipated Fed decision to determine the near-term trajectory.
The AUD/USD pair stalled its recent slump and staged a solid rebound on Wednesday, recovering a major part of previous session's losses to the lowest level since June 2017.
Chinese Caixin Manufacturing PMI for April edged up marginally and provided the initial leg of support to the China-proxy Australian Dollar. This coupled with a positive trading sentiment around commodity-prices, especially copper, underpinned demand for the commodity-linked currency and provided an additional boost to the pair's recovery move.
Meanwhile, a modest US Dollar profit-taking slide, which to a larger extent seems to have negated a follow-through uptick in the US Treasury bond yields and remained supportive of the bid tone surrounding the major.
Currently trading around the 0.7520-25 region, traders now look forward to the ADP report on the US private sector employment for some short-term opportunities. The key focus, however, would remain on the highly anticipated FOMC decision, which will be looked upon for clues over the future tightening path and eventually help investors determine the near-term trajectory for higher-yielding currencies - like the Aussie.
Technical levels to watch
Any subsequent recovery is likely to confront resistance near mid-0.7500s, above which the pair is likely to aim towards surpassing 0.7580 supply zone before eventually darting towards reclaiming the 0.7600 handle.
On the flip side, the key 0.7500 psychological mark now seems to protect the immediate downside, which if broken might turn the pair vulnerable to extend its downfall further towards its next support near mid-0.7400s.
