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May 08 - 11:55 PM

AUD/USD - Bounces After Bids Around 0.7000 Hold For Now

By John Noonan  —  May 08 - 10:05 PM
  • AUD/USD traded down to 0.7005 before bids emerged ahead of 0.7000

  • Setup remain grim, as Dalian iron ore down over 5.0% and E-Minis -1.2%

  • The next level of support is at the 2022 low at 0.6967

  • Former support at 0.7030 may be resistance on the recovery

  • China trade data out shortly and could impact sentiment in Asia

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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