By John Noonan — Oct 08 - 04:30 PM
AUD/USD down 0.25% and below 0.6370 as investors sell risk-buy safe-haven
Selling a knee-jerk reaction to shocking developments in the Middle East nL1N3BE013
Potential for conflict to spiral and spread has investors on edge
AUD/JPY down 0.40% in typical reaction to geo-political uncertainty
AUD/USD gained 0.22% on Friday and completed a bullish outside day
AUD supported on Friday by risk rally in wake of strong US NFPs nL1N3BC2C4
AUD/USD traded as high as 0.6400 with resistance at 21-day MA at 0.6404
Support is at Friday's 0.6312 low and break would negate bullish outside day
Key today will be reaction in equity markets to developments in Middle East
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Source:
Refinitiv IFR Research/Market Commentary