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Oct 09 - 01:55 AM

AUD/USD - Bid With Risk - U.S. Stimulus Package Pivotal

By Andrew M Spencer  —  Oct 08 - 11:25 PM
  • Up 0.2%, as the top of a tight 0.7168-0.7184 range with good interest

  • Risk led with firm stocks, E-mini S&P +0.5%, AsiaxJP +0.3%, Nikkei -0.1%

  • After major RBA & budget event risk - AUD returns to following risk and USD

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

  • 0.7209 - October high and 50% of the September fall is major resistance

  • It should take a viable U.S. coronavirus support deal to break 0.7209

  • 0.7083-95, 61.8% Sep-Oct bounce and the Oct low is a pivotal support zone

  • NY 0.7147 low and 0.7182, 76.4% of Oct dip initial support-resistance


For more click on FXBUZ


gbp 2 oct 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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