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Oct 01 - 07:55 PM

AUD/USD - Buoyant Despite Aid Deal Stall And Copper Plunge

By John Noonan  —  Oct 01 - 06:05 PM
  • AUD/USD opens 0.25% higher at 0.7182 after trading as high as 0.7209

  • AUD buoyant despite no agreement on US aid deal and 5% plunge in NY copper nL1N2GS0X8nL4N2GS1O9

  • Market still holding out hope of an 11th hour US aid deal agreement

  • Hopes a deal will be agreed to discouraging AUD/USD selling for now

  • Resistance around 0.7210 validated by Thursday's price action

  • The 21-day MA and the 50% retracement of 0.7413/0.7006 converge at 0.7210

  • Support is found at the 10-day MA, which descends to 0.7127 today

  • Australia August retail sales today with market expecting -4.2% M/M

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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