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Nov 08 - 10:55 PM

AUD/USD - Risk Rally Supports But 0.7290 Continues To Cap

By John Noonan  —  Nov 08 - 10:05 PM
  • AUD/USD higher on the back of risk rally sparked by Biden election win nL1N2HV029

  • E-minis +1.45%; AXJ index +1.0%; Lon copper +0.65% and Dalian iron +3.8%

  • AUD/USD traded to 0.7290 before offers ahead of 0.7300 capped

  • Heading into the afternoon it is around 0.7285 - up 0.35% from Friday close

  • Market pricing in Biden win and Republican controlled Senate

  • Risk friendly result on expectations of improved U.S.-China trade relations

  • A break above 0.7300 in AUD/USD targets minor resistance ahead of 0.7350

  • Short-term risk is for AUD/USD to move higher while risk assets in favour

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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