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AUD is being supported by an uptick in oil...>

AUSSIE
AUSSIE: AUD is being supported by an uptick in oil prices stemming from
uncertainty heading into the Friday & Saturday's OPEC+ meetings. The OPEC+
committee has recommended an increase in production 1mn B/D, although the actual
increase will likely be closer to 600K B/D. Iran protested against the decision
as expected, leaving a cloud of uncertainty hanging over the upcoming
proceedings.
- The Australian docket looks very limited over the next week, so focus is
likely to fall on the broader risk environment.
- The cross last deals at $0.7396, sitting at best levels, the first notable
point of resistance comes in at $0.7430 (hourly support June 18 now resistance),
while $0.7342 (YtD low) provides support, .
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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