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Lands At The Bottom Of G10 Pile

AUSSIE

AUD underperforms its G10 peers as e-minis have turned red and equity benchmarks in Australia, Japan and Hong Kong have moved away from highs. A trader source told BBG that speculative funds have started reloading shorts in reaction to equity markets performance.

  • AUD/USD trades -15 pips at $0.7269, familiar technical picture remains in play.
  • AUD/NZD has given away 13 pips, last sits at NZ$1.0883. Yesterday's trough at NZ$1.0881 has limited losses thus far. A fall through there and further losses past Sep 3 low/50-DMA at NZ$1.0816/06 would signal that bears are taking control.
  • AUD/JPY sits at Y77.19, 15 pips worse off. A break below the 50-DMA at Y76.01 is needed to open up Aug 24 low of Y75.45, a key near-term support.
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