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Dec 12 - 03:48 PM
AUD/USD - 200-DMA Helps Limit Trade De-Escalation Induced Gains
First appeared on eFXplus on Dec 12 - 01:25 PM
  • Pair lifts slightly in early NY; technicals encourage longs nL1N28M0JC

  • Rally intensifies a bit on Trump, WSJ trade headlines nL1N28M0XX

  • Global bond yields, stocks & commodities gains, USD/CNH fall buoy AUD/USD

  • Rally stalls just short of 200-DMA, some gains erode as US$ buys persist

  • Slight pull back sees AUD/USD near 0.6990 late, still +0.22% late in the day

  • Techs are bullish, RSIs rise, t-l off Dec '18 high breaks

  • Clean breaks above 200-D<a, october="" high="" should="" target="" 0.700/15,="" july's=""></a,>







chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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