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Derived real-time data in partnership with:
Thomson Reuters
May 29 - 02:36 AM
AUD/USD - Risk Correlation Fades, As 0.6860 Base Holds Firm
First appeared on eFXplus on May 29 - 12:45 AM
  • Trades +0.1% with the USD a touch softer, ignoring broad risk off extending
  • E-mini S&P -0.3%, AsiaxJP -0.6%, Nikkei -1.2%, 10yr UST yield new 2.239% low
  • China demand and rising price for iron ore provides AUD support nL4N2345GI
  • AUD has been resilient for two weeks above the 0.6860 triple bottom in May
  • Positive momentum studies, and a bullish 5 & 10 DMA cross also support
  • Close above falling 0.6945 21 DMA to suggest a longer term base at 0.6860
  • NY 0.6920/0.6935 range is initial support resistance - 0.6925 235M strikes

aud may 29 Click here

Source:
Thomson Reuters IFR Markets

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