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Oct 09 - 02:36 AM
AUD/USD - Bid - 0.6720 Proves Solid, Despite More Weak Data
First appeared on eFXplus on Oct 08 - 11:05 PM
  • Trades up 0.2%, at the top of a 0.6723/0.6742 range - AUD/JPY +0.3%

  • Modest risk on supports - E-mini S&P +0.3% and local stocks off early lows

  • Consumer sentiment slumped, as global caution trumped the RBA nS9N252006

  • AUD bulls in short supply amid US/China friction and a souring local economy

  • Charts - daily momentum studies 5, 10 & 21 DMAs conflict - neutral setup

  • 0.6722 50% Oct bounce is providing solid support - 0.6709 61.8% below

  • 0.6757 London high first resistance, then Friday's 0.6774 high

aud2 oct 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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