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TDUX
Nov 12 - 01:55 PM
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AUD/USD - A 10-Month Low Is Struck

By Christopher Romano  —  Nov 12 - 01:05 PM

• NY opened near 0.6830 after 0.6854 traded overnight, pair's drop extended

• Sharp gains in US yields drove broad-based USD buying

• Drops in gold, silver, copper & USD/CNH's positive turn weighed on AUD/USD

• AUD/USD hit a 10-month low of 0.6798, sat near 0.6805 late, down -0.61%

• Technical signals are growing more bearish as fresh signals emerged

• Recent consolidation ended with new low, 50% Fib of 0.6422-0.7277j broke

• Head & shoulder top completion, falling RSIs, hold below 10- & 21-DMAs add to bear signs

• US October PPI is a key data risk in NY's morning for Friday
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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