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Action is in FX

CROSS ASSET
  • Cross assets, dust has settled in Govies, Rates and Equities, and the action is in FX.
  • Cable test immediate support at 1.1272, did print 1.1268 low.
  • Cable is down over 1% vs the Greenback.
  • Next small support area is at 1.1258, followed by 1.1200.
  • Similar for the EURUSD, testing immediate support at 0.9765 Trendline support drawn from the Sep 28 low. Did print a 0.9761 low so far.
  • Further downside traction would open to 0.9705 Low Oct 21.
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