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Firming

AUD

AUD/USD firming, the pair up some 21 pips at 0.7283. The next resistance is seen at 0.7316 the high from Sep 23 and intraday high, above which the 50-day EMA at 0.7356 awaits. A weaker greenback is helping upside in the pair, while firmer iron ore is also giving AUD a lift. In Singapore iron ore futures are up around 8%. The rise in iron ore is said to be driven by autumn-winter environmental protection measures and difficulties ramping up production in the short term, while widespread blackouts in China have also served to shake up commodity markets.

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