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Oct 17 - 11:55 PM

AUD/USD - Stronger China Growth Underpins AUD Recovery

By John Noonan  —  Oct 17 - 11:00 PM
  • AUD/USD opened +0.38% at 0.6366 as AUD outperformed other major currencies

  • It eased to 0.6351 after RBA Governor Bullock's comments had no impact nS9N38X01X

  • It was 0.6355 when China GDP was released and came in better than expected nP8N3AU00J

  • China retail sales and IP also beat forecasts nP8N3AU00K

  • AUD/USD traded up to 0.6379 before settling around 0.6370/75

  • Lon copper rose 0.85% after the data and USD/CNH fell 0.22% nL1N3BO06B

  • AUD/USD rally sopped short of the 21-day MA at 0.6382

  • A break above 0.6385 targets the 55-day MA at 0.6426

  • Support is at Tuesday's 0.6535 with bids tipped at 0.6330

  • AUD/USD may extend gains if China optimism supports key commodities

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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