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The Jordanian military said it shot down two missiles and two drones launched by Iran into the country’s airspace in the past 24 hours.On April 6th, US President Trump stated in an interview on April 5th that the US is currently engaged in "in-depth negotiations" with Iran and hopes to reach an agreement before his April 7th deadline. Two sources indicated that the negotiations are being conducted through mediators from Pakistan, Egypt, and Turkey, and there has also been communication between Trumps advisors and the Iranian Foreign Minister. Trump stated that his special envoy, Witkov, and his son-in-law, Kushner, are conducting intensive negotiations with the Iranian side. Trump said that an agreement is very likely, but if an agreement cannot be reached, he will destroy everything there. Previously, Trump had threatened to destroy infrastructure vital to Iranian civilians if an agreement could not be reached with Iranian leaders.On April 6, Iranian Foreign Minister Araqchi stated during a phone call with Russian Foreign Minister Lavrov that the US threat to attack Iranian energy facilities was Washingtons "admission" of war crimes. In a statement, Iran said, "The Iranian Foreign Minister mentioned the US threat to attack Iranian energy facilities, considering these remarks a clear admission of war crimes." Araqchi pointed out that since the start of the war, the US has been attacking Irans industrial, energy, educational, medical, and nuclear infrastructure. He emphasized that the UN Security Council and the International Atomic Energy Agency should immediately condemn the US attacks on Iranian facilities.April 6 - According to the Telegram channel "TOLOnews Plus," citing the National Disaster Management Authority (ANDMA), as of Sunday, the death toll from floods and landslides caused by torrential rains that began in Afghanistan on March 25 has reached 99, with 154 injured.April 6th - According to foreign media reports, crude oil loading at the important Russian Baltic port of Ust-Luga was disrupted for several days following multiple drone attacks by Ukraine, but has now resumed. Shipping information shows that an Aframax bulk carrier named "Gem" began loading cargo on Saturday. Currently, Ukraine continues to attack Russian Baltic oil infrastructure; facilities at the port of Primorsk were damaged earlier on Sunday. Ukraines actions are aimed at curbing Russian export revenues. Global energy prices have risen due to the Middle East war. However, if Russia resumes a stable supply of crude oil from the Ust-Luga oil field, it could provide some relief to global markets turbulent due to Irans blockade of the Strait of Hormuz.

AUD/USD However, 0.6700 is the key to the upside

Daniel Rogers

Apr 11, 2023 14:41

AUD:USD.png 

 

In the early hours of Tuesday morning in Asia, the AUD/USD receives bids near 0.6650 to recover recent losses. In doing so, the Aussie pair recovers from the lowest levels in two weeks while reversing course from the horizontal support that has been in place for 12 days around 0.6620.

 

Nonetheless, imminent bearish MACD signals and a stable RSI indicate that the AUD/USD pair will continue to decline.

 

The convergence of the 10-day moving average and the support-turned-resistance line from March 10, close to the round number 0.6700, may also threaten the most recent price recovery.

 

Even if the AUD/USD bulls are able to surpass 0.6700, the 50% Fibonacci retracement level of the pair's February-March decline, located around 0.6805, will serve as the final line of defense for the bears.

 

Alternately, a break below 0.6620 could initiate a new decline aiming for the Year-to-Date (YTD) low established in February around 0.6565.

 

Notably, the AUD/USD pair's decline beyond 0.6565 confronts multiple obstacles to the south, including the highs for October 2022 near 0.6545 and 0.6520.

 

After that, a decline to the November 2022 low of approximately 0.6275 cannot be ruled out.

 

Regardless of the recent corrective rally, the AUD/USD remains on the radar of skeptics.


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