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Early ’22 Battle Lines Drawn

AUD

AUD/USD trades a handful of pips higher in early Sydney dealing, last printing $0.7240.

  • Speculation re: swifter Fed balance sheet normalisation (coupled with talk of such a move resulting in less of a need for aggressive rate hikes) and softer than expected ISM m’fing data capped the USD rally on Tuesday, which allowed the AUD/USD cross to find a base ahead of Tuesday’s low. Local Australia news flow remains light, leaving the AUD at the mercy of broader macro matters.
  • The initial technical lines in the sand are as follows:
  • Resistance: Dec 31 high ($0.7278)
  • Support: Jan 3 low ($0.7184)
  • ANZ job ads data headlines the local docket today.
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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