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Oct 20 - 07:55 AM

AUD/USD - Lifted Towards 0.63 By China-COVID Report

By Rob Howard  —  Oct 20 - 06:15 AM
  • AUD/USD hits 0.6294 after extending north from 0.6229 (Asian session low)

  • Rise to 0.6294 (intra-day high) fuelled by COVID-related report

  • China considers shorter COVID quarantine for visitors - Bbg nL1N31L09A

  • Yuan up on report nL1N31L091. AUD is widely used as liquid proxy for CNY

  • 0.6229 was lowest level since Monday, after disappointing Aussie jobs data

  • See: nL1N31L01L. 0.6350 is key resistance level beyond 0.6300 nL1N31K0OT

Source:
Refinitiv IFR Research/Market Commentary

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