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Hovering Above Multi-Week Low

AUD

Wage price data sapped strength from the AUD Wednesday, as the headline print fell short of the level thought by the RBA to generate a desired inflationary outcome. Broader risk aversion kept a lid on recovery attempts, with AUD/USD printing multi-week lows ahead of the close.

  • AUD/USD last changes hands at $0.7268, little changed on the day. A breach of bull channel base drawn from the Aug 20 low, which intersects at $0.7252, would shift focus to Oct 6 low of $0.7226. Conversely, a rebound above Nov 15 high of $0.7371 would bring Nov 9 high of $0.7432 into play.
  • RBA's Richards and Ellis are set to speak today (none of them sits on the Board).

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