AUD/USD retreats from weekly tops though stay above the 200-DMA around 0.7320s By christianborjon AUDUSD Majors Macroeconomics Technical Analysis
that Russian President Vladimir Putin claimed that the discussions with Ukraine had taken a positive turn. Reflection of the previous mentioned are European and US equity markets in the green, though in the FX space, the antipodeans extend losses. At the time of writing, the AUD/USD is trading at 0.7326, down 0.45% in the North American session.
In the meantime, the greenback remains firm, at 98..630 up 0.12%, a headwind for the AUD/USD. Furthermore, the rise in US Treasury yields, courtesy of the US central bank getting ready hikingcrossed the wires, and he “warned borrowers to start preparing for higher interest rates, as surging prices of commodities such as oil, gas and coal heap pressure on the central bank to increase rates to control rising inflation,” per AFR.
Data-wise, an absent Australian docket left AUD/USD leaning in US macro, though next week, inflation in Australia would be reported. On the US front, the University of Michigan Consumer Sentiment declined from 62.8 in February to 59.7, while Inflation expectations rose to 5.4% from 4.9% in the previous reading.The AUD/USD remains upward biased but clings just above the 200-day moving average , at 0.7317.
That said, the AUD/USD first support would be the 200-DMA. Breach of the latter would expose the confluence of the 50-DMA and the 50%
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