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Feb 08 - 10:55 PM

AUD/USD - Breaks Resistance As USD Weakness Returns In Asia

By John Noonan  —  Feb 08 - 09:39 PM
  • AUD/USD opened 0.34% higher at 0.7704 on the back of buoyant risk assets

  • After trading at 0.7702 - it tracked higher for the rest of the morning

  • Solid NAB business survey helped underpin the price action nS9N2J2008

  • AUD/USD broke the 61.8 of the 0.7819/0.7564 at 0.7722 to a high at 0.7728

  • Heading into the afternoon it was trading around 0.7725

  • Support is at the 21-day MA at 0.7695 and 10-day MA at 0.7653

  • The next resistance level is at the Jan 27 high at 0.7764

  • AUD/USD will benefit from USD weakness while equities and commodities move higher

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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