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Jan 08 - 02:36 AM
AUD/USD - Well Bid As S&P Futures Recovers Losses
First appeared on eFXplus on Jan 07 - 10:15 PM
  • AUD/USD traded to 0.6850 when AUD/JPY sold off on Iran missile attack nL1N29D006

  • AUD/JPY fell close to 1% to base of daily I-cloud at 73.70 before reversing

  • S&P futures were over 1.5% lower before rallying to be down only 0.25% down

  • AUD/JPY back to 74.55 and the AUD/USD back to 0.6880 in whippy reversal

  • AUD/USD resistance at 200-day MA at 0.6895 and break eases downward pressure

  • Support formed at 0.6850 where very good buying absorbed initial sell-off

  • Geopolitics in focus as market awaits response by US






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Source:
Refinitiv IFR Research/Market Commentary

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