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Sep 07 - 11:55 PM

AUD/USD - Back To Starting Point After Early Rally Fizzles

By John Noonan  —  Sep 07 - 11:33 PM
  • AUD/USD opened -0.70% at 0.7488 after USD rose and risk assets slipped nL1N2Q91TNnL1N2Q9216

  • It moved higher in early Asia when buying flows emerged in AUD and NZD

  • AUD/USD traded to 0.7403 before sellers emerged as the buying flows faded

  • There is talk that recent buying is related to miner dividend payments

  • Heading into the afternoon session the AUD/USD is trading around 0.7385/90

  • AUD/USD looks vulnerable after completing bearish outside day yesterday

  • Support is at 10-day MA at 0.7359 and break would shift pressure to downside

  • Resistance is at last week's high at 0.7477 with selling tipped at 0.7470

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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