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Thomson Reuters
Oct 09 - 12:12 AM
AUD/USD - Resilient AUD Moves Higher With China Equities
First appeared on eFXplus on Oct 08 - 10:30 PM
  • AUD/USD breaking resistance 0.7085/90, as market looks for excuses to buy
  • Pair remained bid despite weaker CNY fix and 1.25% fall in AXJ equity index
  • Small bounce in Shanghai Composite (+0.45%) enough for shorts to pare back
  • AUD/USD shorts taken last week as proxy for EM frustrated by resilience
  • Next resistance @ 0.7145/50 where 10-day MA & 38.2 of 0.7315/0.7041 converge
  • Short-covering rally should be viewed as selling opportunity

aud/usd Click here

Source:
Thomson Reuters IFR Markets

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