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Jul 17 - 02:36 AM
AUD/USD - Edging Towards 0.7000 As Small Stops Triggered
First appeared on eFXplus on Jul 16 - 11:10 PM
  • Small stops below yesterday's low have been triggered to 0.7002 low
  • Selling emerged after Tokyo buying ended and AUD/USD hit 0.7020
  • Dalian iron ore is down over 2.0% and providing catalyst for the selling
  • Support at 0.6993 where 10-day MA and 38.2 of 0.6910/0.7045 converge
  • Break below 0.6990 would suggest short-term top in place at 0.7045/50
  • Extended moves unlikely ahead of key Aus jobs data tomorrow

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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