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Jan 09 - 11:55 PM

AUD/USD - Moves Higher As AUD/JPY Demand Underpins

By John Noonan  —  Jan 09 - 10:15 PM
  • AUD/USD opened -0.48% at 0.6688 after USD firmed and risk assets slipped nL1N3DZ1WA

  • It moved higher in Asia as market ignored a softer than expected Aus Nov CPI nAZN1I1T9O

  • AUD/JPY helped to underpin, with the cross rising close to 0.5% at one stage

  • AUD/USD traded to a high at 0.6705 before settling 0.6695/0.6700

  • AUD/USD support is at the 38.2 of Oct-Dec move at 0.6641 with bids at 0.6675

  • Resistance is at the 10-day MA at 0.6747 with sellers tipped at 0.6735

  • Topside limited as key commodities are struggling on China concerns

  • Lon copper is down 4.5% since end of Dec - Dalian iron ore down 1.5% today

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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