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Sep 03 - 08:36 PM
AUD/USD - Outperforms On Short-Covering Ahead Of GDP
First appeared on eFXplus on Sep 03 - 06:25 PM
  • AUD was best performing currency Tuesday as shorts pared back
  • Those looking for dovish tweak in RBA statement disappointed
  • Weak US Mfg ISM also underpinned AUD/USD
  • AUD strength despite fall in equities, EM and key commodities
  • AUD/USD gained 0.68% and completed a bullish outside day
  • Aus GDP the key event today with market looking for +0.5% Q/Q
  • Resistance at 21-day MA at 0.6761 and break targets sellers around 0.6800
  • Close support at 10-day MA at 0.6747 with buying tipped around 0.6725

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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