By Christopher Romano — Sep 30 - 01:25 PM
AUD/USD opened NY near 0.6915 after 0.69415 traded overnight
Dip was bought as investors hope China stimulus drive economic growth
Iron-ore DCIOc2 gains extended to help lift AUD/USD higher
Erosion of some US yield US2YT=RR gains, AUD/JPY rally helped lift AUD/USD
Pair hit 0.69415 then dipped, was up +0.54% late in the session
Techs are bullish; daily, monthly RSIs rising, pair above many daily MAs
Monthly and daily bull hammer candles reinforce the bullish signals
Australia Aug. Building approvals, Japan Q3 Tankan are risks in Asia
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Source:
Refinitiv IFR Research/Market Commentary