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Narrow Ranges In Early Dealing

FOREX

The USD is a touch pressured in early dealing on Thursday, BBDXY is down ~0.05%, however across the G-10 space ranges are narrow with little follow through on moves thus far.

  • AUD/USD is marginally firmer and last prints at $0.6415/20. Technically the outlook remains bearish, support comes in at $0.6287 2.00 projection of the Jun 16-Jun 29-Jul 13 price swing. Resistance is at $0.6445, high from Oct 11.
  • Kiwi is little changed from opening levels, NZD/USD has observed a ~10 pip range this morning. In September Food Prices fell 0.4% M/M, the prior read was 0.5% M/M.
  • Yen is also little changed and is consolidating above ¥149 this morning. USD/JPY is still in an uptrend, key support is at ¥147.43 the low from Oct 3 and resistance is at ¥150.16 high from Oct 3 and bull trigger.
  • Elsewhere in G-10 GBP and EUR are marginally firmer following the broader USD trend.
  • The docket is light for the remainder of today's Asian session.

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