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AUD: AUDUSD Holding Above 66c, Bear Cycle Continues

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

The G10 was down against the US dollar with the USD index up 0.3% driven by higher US yields and Aussie was an underperformer with other risk-sensitive currencies. AUDUSD fell 0.5% to 0.6604 but has started today around this level. The pair was driven to a low of 0.6602 on Friday by weaker US equities; it had risen to 0.6645 before that.

  • The AUDUSD bear cycle continues and is currently trading below key support at 0.6622 and 0.6614 has been breached too. The next level to watch is 0.6576. Initial resistance is at 0.6728, 50-day EMA.
  • Aussie weakened against European currencies with AUDGBP down 0.4% to 0.5095 and AUDEUR -0.25% to 0.6121.
  • AUDJPY is down 0.2% to 100.59 but has started today higher at 100.88. Aussie was slightly stronger than kiwi with AUDNZD up 0.1% to 1.1048 and is currently around 1.1055.
  • Equities were soft with the S&P down slightly and Euro stoxx up only 0.15%. Oil prices rose strongly with Brent up 2% to $75.90/bbl. Copper increased 0.4% and iron ore is above $103/t.
  • There are no data or events in Australia today. The focus of the week will be Wednesday’s Q3 CPI data.
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The G10 was down against the US dollar with the USD index up 0.3% driven by higher US yields and Aussie was an underperformer with other risk-sensitive currencies. AUDUSD fell 0.5% to 0.6604 but has started today around this level. The pair was driven to a low of 0.6602 on Friday by weaker US equities; it had risen to 0.6645 before that.

  • The AUDUSD bear cycle continues and is currently trading below key support at 0.6622 and 0.6614 has been breached too. The next level to watch is 0.6576. Initial resistance is at 0.6728, 50-day EMA.
  • Aussie weakened against European currencies with AUDGBP down 0.4% to 0.5095 and AUDEUR -0.25% to 0.6121.
  • AUDJPY is down 0.2% to 100.59 but has started today higher at 100.88. Aussie was slightly stronger than kiwi with AUDNZD up 0.1% to 1.1048 and is currently around 1.1055.
  • Equities were soft with the S&P down slightly and Euro stoxx up only 0.15%. Oil prices rose strongly with Brent up 2% to $75.90/bbl. Copper increased 0.4% and iron ore is above $103/t.
  • There are no data or events in Australia today. The focus of the week will be Wednesday’s Q3 CPI data.