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A$ Underperforms G10, Support At 0.6661 (50-day EMA) Eyed

AUD

AUD underperformed the G10 and traded below 0.6700 during the European and NY sessions, as risk sentiment was generally negative. It is currently around 0.6677. DXY was down 0.7% on significant yen strength after the BoJ YCC adjustment.

  • AUDJPY trended lower in the NY session to finish down 4.1% and is now trading around 87.95. AUDNZD moved sideways and is now about 1.052. AUD was down 0.5% against the EUR to 0.6284.
  • AUDUSD 100-day simple MA is providing support. Attention is on the 50-day EMA of 0.6661 and a clear break of this would signal a deeper downturn and open up 0.6585, the November 21 low. On the upside, key resistance is 0.6893, the December 13 high.
  • Equity markets were mixed with the S&P 500 and FTSE up 0.1% but the Eurostoxx down 0.2%. VIX fell to 21.5%. Oil prices have been range trading and WTI is up slightly on Monday’s NY close at around $76.15/bbl. Copper is also higher up 0.7% and iron ore held onto its gains and is trading just over $109.
  • Today the Westpac leading index for November prints.
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