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Thomson Reuters
Jan 09 - 03:48 AM
AUD/USD - Moves Higher As Buoyant Risk Trumps Weak Aus Data
First appeared on eFXplus on Jan 08 - 10:25 PM
  • Risk appetite strong in Asia, as US/China trade deal optimism is on the rise
  • AUD/USD traded to 0.7171 on report Trump anxious to strike a deal with China
  • Much weaker Aus Bldg Appls capped the rally and it retreated to 0.7143
  • Impact didn't last long and AUD/USD above 0.7160 into the afternoon
  • Resistance at 0.7177 where the 55 and 100-day MAs converge
  • Break above 0.7180 initially targets Dec 13 high at 0.7247
  • Support at 21-day MA at 0.7100 and break would ease upward pressure

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Source:
Thomson Reuters IFR Markets

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