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Aug 10 - 11:55 PM

AUD/USD - Firm In Asia As Volatility Settles With Tokyo Holiday

By John Noonan  —  Aug 10 - 11:30 PM
  • AUD/USD opened -0.20% at 0.6515 after a volatile US session

  • It completed a bearish outside day after trading 0.6617 in wake of US CPI nL1N39R1CK

  • After trading 0.6510 it moved higher in Asia and traded up to 0.6533

  • Heading into the afternoon the AUD/USD is settled around 0.6525

  • AUD/USD may have received a small boost from RBA Lowe's comments

  • Lowe said that more tightening may be needed, but was otherwise neutral nL1N39R3HI

  • E-Minis and Dalian iron ore firmed early before giving back the modest gains

  • AUD/USD buyers are tipped around 0.6500 with support at 2023 low at 0.6459

  • Resistance is at 10-day MA at 0.6567 and close above would ease the pressure

  • Technical bias is negative after the bearish outside day

  • China scepticism will likely limit rallies in the short-term

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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