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Jul 19 - 01:55 PM

AUD/USD - Investors Target Old Support, 55-DMA With RBA, US Dollar Help

By Christopher Romano  —  Jul 19 - 11:35 AM
  • AUD/USD's overnight dip was shallow, buyers emerged near the 10-DMA

  • Pair then rallied sharply off the 0.6803 low with help from the RBA

  • RBA minutes suggest more hikes due; RBA's Bullock leans hawkish nS9N2WQ05G

  • Australian yields YTTc1 rally while upbeat risk rallies equities ESv1

  • Broad based sales of safe-haven US dollar help to buoy risk sentiment

  • AUD/USD cleared the July 1 daily high, hit 0.6909 before dipping slightly

  • June 29 daily high at 0.6920 remains an impediment, stops likely above

  • Break of that high should see the 55-DMA & old support near 0.7000 tested

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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