AUDUSDAustralian Dollar / US Dollar
0.7135
-1.10%
SUPPORT:0.70660.6983
RESISTANCE:0.72050.7288
Past
What happened
AUD/USD broke down 110 pips to 0.7135, the day's worst G10 performer, as risk-off bond selloff and China growth angst stacked on top of the global yield shock.
Why
Why it matters
The Aussie is the cleanest expression of de-risking right now: high beta to global equities, high beta to copper/iron ore, and zero positive carry vs the US after the yield repricing.
Watch
What to watch
0.7100 is critical psychological support — a close below opens 0.7050. The China May data dump and any oil-price reversal are the two reflexive triggers for a bounce.
HEADLINES
- The Dollar is Now Lower Than When the Iran War BeganThe Wall Street Journal
- Dollar softens as Middle East ceasefire holdsReuters
- Why is the Australian Dollar Rallying?Barchart