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AUD Breaks Bear Trigger

FOREX

AUD/USD has been pressured in today's Asian session, the pair has broken $0.6286, low from Oct 3/13 and bear trigger. AUD was pressured after RBA Gov Bullock's senate testimony, extending losses as US Equity futures ticked lower through the session.

  • AUD/USD sits at $0.6275/80 down ~0.5% today. The next support level is $0.6215, 2.236 proj of Jun 16-Jun 29-Jul 13 price swing.
  • Kiwi is also pressured, NZD/USD printed a fresh 2023 low today before marginally paring losses in recent trade. NZD/USD is down ~0.4% and last prints at $0.5775/80.
  • USD/JPY has ticked higher and breached ¥150.40, 2.618 projection of the Jan16-Mar 8-Mar 24 price swing. The next target for bulls is ¥151.09, 2.764 projection of the Jan16-Mar 8-Mar 24 price swing.
  • Elsewhere in G-10 EUR and GBP are reflecting the broader USD move and are down ~0.2%. The Scandies are pressured however liquidity is generally poor in Asia./
  • Cross asset wise; BBDXY is up ~0.2% and e-minis are ~0.6% lower. US Tsy Yields are little changed across the curve.
  • The latest monetary policy decision from the ECB provides the highlight in the European session today.

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