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Jun 17 - 07:55 AM

AUD/USD - Weighed Down By Iron Ore Losses

By Rob Howard  —  Jun 17 - 05:55 AM
  • 0.7002 is high water-mark for AUD/USD since its early Europe drop to 0.6973

  • Drop to 0.6973 influenced by iron ore losses; Dalian closed down 5.9%

  • See: nL1N2Y40CL. Iron ore is Australia's biggest export earner

  • 0.6973 is lowest level since Thursday's three-day high of 0.7069

  • Ascent to 0.7069 was aided by lightening of USD long positions

  • 0.6943 (Thursday's low) and 0.6918 are support levels below 0.6973

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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