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Sep 12 - 01:55 AM

AUD/USD - Ends Whippy Session Lower As Cross Flows Weigh

By John Noonan  —  Sep 11 - 11:40 PM
  • AUD/USD gapped down to 0.6797 early Asia after closing Friday @ 0.6846

  • Move appeared to be cross driven as EUR/USD gapped higher at the same time

  • EUR/AUD short covering may have been tied to Ukraine military success nL1N30I048

  • AUD/USD quickly filled the gaps when market became more liquid

  • It traded back to 0.6844 before easing again later in the morning

  • EUR/AUD remained bid and was up 0.60% into the afternoon

  • The AUD/USD settled around 0.6825/30

  • AUD/USD resistance is at the 21-day MA at 0.6870 and break would be bullish

  • The next level of resistance is at the 50% of the 0.7136/0.6699 at 0.6917

  • Support is @ 10-day MA @ 0.6801 and a close below would ease upward pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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