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Oct 11 - 11:55 PM

AUD/USD - Fresh 2-Year Low As USD Firms And Dalian Iron Ore Slides

By John Noonan  —  Oct 11 - 09:55 PM
  • AUD/USD below 0.6245 as USD broadly higher and China concerns persist

  • AUD worst performing major currency in Asia, as Dalian iron ore slides 2.75%

  • USD broadly bid tone after market probed BOJ in USD/JPY above 146.00

  • AUD/USD objective is the 76.4 of the 2020 move at 0.6099

  • Trend lower entrenched with the 5, 10 & 21-day MAs in a bearish formation

  • Only a move back above the 10-day MA at 0.6401 relieves downward pressure

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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