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Narrow Ranges Across G-10 In Early Trade

FOREX

There have been narrow ranges across G-10 FX with little follow through on moves this morning. BBDXY is little changed and sits at its lowest level since early September. US Tsys are little changed as are US Equity futures, little macro newsflow has crossed this morning.

  • AUD/USD sits a touch above yesterday's closing level however a $0.6555/65 range has been observed thus far. Technically resistance comes in at $0.6382, 50.0% retracement of Jul-Oct bear leg. Support is at $0.6453, Nov 17 low.
  • Kiwi is also little changed, NZD/USD broke the $0.60 handle yesterday and last prints at $0.6035/40. The 200-Day EMA is the next target for bulls ($0.6063).
  • Yen is a touch firmer, USD/JPY is ~2.5% lower than November highs and last prints at ¥148.30/40. Ranges are narrow this morning and the Japanese docket is empty today.
  • Elsewhere in G-10 there hasn't been any moves of note thus far.
  • At the bottom of the hour the RBA minutes of the November policy meeting cross.
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