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Oct 31 - 07:55 PM

AUD/USD - Opens Lower After USD Surges And Commodities Slip

By John Noonan  —  Oct 31 - 06:10 PM
  • AUD/USD opens -0.56% following a surge higher in the USD after US wage data nL1N3C119V

  • USD broadly higher led by huge 1.80% rally in USD/JPY following BOJ nL1N3C12DJ

  • Key commodities slipped following weak China PMI and weighed on AUD nL1N3C111K

  • AUD/USD closed below 21-day MA (0.6349) but above the 10-day MA (0.6334)

  • Support is at a double-bottom formed at 0.6270/75

  • Resistance is at the 55-day MA at 0.6393 and break would be bullish

  • Caixin China PMI today, but market looking ahead to Fed decision

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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