Strong Copper Can Be Supportive For AUD/USD
Gregor Horvat | Apr 26, 2021 04:25AM ET
Commodity currencies are looking strong as metals move higher in April. Howevet, the important market to track is also Copper because of its widespread applications in different sectors of economy, so it's seen as one of the leading indicator of economic health. It's very important evidence for a real inflation.
What we see on copper is a strong breakout of a triangle so more upside here is bullish for AUD/USD. Australian CPI figures can be just another catalyst for higher prices if we consider that break out of a downward channel already occured two weeks back.
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