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Greenback Strength In Recent Trade, DXY To Session Highs

USD
  • Broad continuation of dollar strength sees the dollar index rise to fresh session highs, currently up 0.24%.
  • Supportive greenback price action sees AUDUSD (-1.34%) and NZDUSD (-1.11%) continue their slump to their worst levels in two weeks.
  • Price action in AUD largely a reflection of the broadly dovish central bank overnight and now being exacerbated with the most recent bout of dollar buying.
  • With US equity indices continuing to make record highs and broad technical conditions for the pair largely remaining in bullish territory, we note firm support is still seen at 0.7393, the 50-day EMA.
  • AUDJPY has fallen an even more dramatic 1.42% and worth noting pivot support residing at 84.26, the late June and July highs.

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