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Dec 04 - 08:55 AM

AUD/USD - Risk-On But Bulls Corralled Ahead Of Jobs Data

By Christopher Romano  —  Dec 04 - 07:40 AM
  • Equities ESv1, copper HGv1, iron-ore DCIOc2 rallies extend

  • AU-US yield spreads tighten & USD/CNH drops towards 6.5100

  • Despite those bullish influences AUD/USD trades lower on the day

  • Pair hovers just above the session low as investors await US jobs report

  • Pull back holds above old resistance turned support which sits 0.7405/15

  • If support holds & US$ weakens after data 0.7450/55 break is likely

  • 76.4% Fibo of 0.8136-0.5510 which sits 0.7516 is then targeted

  • Should 0.7405/15 break profit taking will put 0.7325/45 zone in play

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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