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Jan 02 - 07:55 AM

AUD/USD - Trades On 0.68 Handle As 2024 Gets Going

By Rob Howard  —  Jan 02 - 06:30 AM
  • AUD/USD trades above 0.6800 as AUD benefits from iron ore strength

  • Iron ore is Australia's single biggest export earner

  • 0.6800 is a former resistance level. 0.6803 was Asian session low

  • Bids may emerge around 0.6782 (Dec 29 low) if AUD/USD breaks below 0.6800

  • Offers expected ahead of 0.69 (0.6871 was 21-week peak last week)

  • China lifts policy bank loans in Dec, raising housing support expectations

Source:
Refinitiv IFR Research/Market Commentary

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