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Sep 02 - 07:55 AM

AUD/USD - Looks Up, But Don't Ignore Mega Options And NFP

By Richard Pace  —  Sep 02 - 05:48 AM
  • AUD/USD extends its recovery to 0.7389 Thursday - just shy of key resistance

  • Break/close above 55-dma 0.7393 opens 4 Aug high and a key Fibo at 0.7426-50

  • 0.7450 is 38.2% of 0.8007-0.7106 decline. Broke/closed above 23.6% .7319 Tue

  • Weaker USD/risk sentiment underpin, but options flag NFP risk nL1N2Q40HZ

  • Huge A$1.8-billion 0.7350 option strikes expire post NFP Friday - 10-am NY

  • Related hedging can limit AUD/USD gains, make 0.7350 a magnet on any setback

For more click on FXBUZ


AUDUSD option strike expiry Click here

AUD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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