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Nov 29 - 09:55 PM

AUD/USD - Better Bid As Strong China PMI Underpins

By John Noonan  —  Nov 29 - 09:13 PM
  • AUD/USD trading above 0.7150 after better than expected China PMI nL1N2SK0AD

  • Risk assets generally bid in Asian with Eminis +0.30% and AXJ index +0.27%

  • Move down in the USD/CNY also helping to give the AUD/USD a bid tone nL1N2SL02S

  • AUD/USD resistance at former support at 0.7170 and the 10-day MA at 0.7202

  • A break above 0.7205 would suggest trend lower is losing momentum

  • Support @ 2021 low @ 0.7106 strengthened by Friday/Monday fails below 0.7115

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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