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Oct 22 - 05:55 PM

AUD/USD - Firm Start After Buyers Below 0.6300 Hold Sway

By John Noonan  —  Oct 22 - 05:15 PM
  • AUD/USD slightly higher early Asia after easing 0.24% on Friday

  • It has traded below 0.6300 on 6 of the last 14 trading days

  • Dip buyers ahead of 0.6285 have discouraged a sustained break lower

  • Key resistance has formed @ the 55-day MA(0.6412) which has held since Aug 1

  • A break above 0.6415 would suggest a bottom in place at 0.6285/90

  • Risk aversion continues to be a theme due to uncertainty in the Middle East nL1N3BR0LT

  • There isn't any data today so moves in Asian equities will impact direction

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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