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FOREX: Greenback Extending Gains, AUDUSD to Fresh Weekly Low

FOREX
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  • Greenback continues to trade on the front foot and picks up a bit of momentum in recent trade as the likes of AUD (-0.99%) and NZD (-1.06%) trade to fresh session lows, leading G10 underperformance.
  • Multiple lows at 0.6380 this week are giving way in AUDUSD, turning attention to key support at 0.6350 and 0.6339. Below here, attention would be on 0.6259, the 1.00 projection of the Sep 30 - Nov 6 - 7 price swing.
  • For NZDUSD, a breach of 0.5797 would place the pair at the lowest level since November 2023, with 0.5774 a notable support.
  • EURUSD is edging back towards 1.0500 as the post payrolls reversal extends to over 1%, and as noted above, punchy option expiries between 1.05/06 could provide an obstacle to a more significant breakout at this juncture ahead of the ECB.
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  • Greenback continues to trade on the front foot and picks up a bit of momentum in recent trade as the likes of AUD (-0.99%) and NZD (-1.06%) trade to fresh session lows, leading G10 underperformance.
  • Multiple lows at 0.6380 this week are giving way in AUDUSD, turning attention to key support at 0.6350 and 0.6339. Below here, attention would be on 0.6259, the 1.00 projection of the Sep 30 - Nov 6 - 7 price swing.
  • For NZDUSD, a breach of 0.5797 would place the pair at the lowest level since November 2023, with 0.5774 a notable support.
  • EURUSD is edging back towards 1.0500 as the post payrolls reversal extends to over 1%, and as noted above, punchy option expiries between 1.05/06 could provide an obstacle to a more significant breakout at this juncture ahead of the ECB.