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Jun 04 - 08:55 AM

AUD/USD - Old Fibo Support Caps Gains Ahead Of Jobs Data

By Christopher Romano  —  Jun 04 - 07:16 AM
  • AUD/USD climbs slightly overnight, lift aided by copper, equity bounces

  • Lift stalls near 61.8% Fib of 0.7533-0.7891, hits 0.7671 intra-day high

  • Pair slides into NY open as USD/CNH lifts near 6.4100, US$ broadly bid

  • AUD/USD turns slightly negative on session but holds within tight range

  • US May jobs risk looms, improvements expected USNFAR=ECIUSUNR=ECI

  • If data upbeat like ADP, claims were US rates, US$ likely to rally

  • Upbeat data likely reinforces views Fed needs to act sooner than later

  • For more click on FXBUZ



aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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