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Jul 01 - 01:55 AM

AUD/USD - Slide Accelerates As AUD/JPY Selling Weighs

By John Noonan  —  Jun 30 - 11:55 PM
  • AUD/USD opened +0.33% at 0.6902 after USD eased during US session

  • It came under pressure in Asia when USD firmed and Dalian iron ore slid 4.5%

  • After pausing around 0.6870, selling resumed led by AUD/JPY sales

  • AUD/JPY is down 1.60% with Tokyo names behind the heavy selling

  • E-minis are down around 0.85% to encourage the AUD/JPY selling

  • AUD/USD is trading at session low just above 0.6825, as stromng Caixin China PMI didn't help nZUN0054F6

  • The break below support at 0.6850 targets the 2022 low at 0.6829

  • Resistance at 10-day MA at 0.6912 and break is needed to relieve pressure

  • The weak global growth outlook should keep the AUD under broad pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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