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Slips On Renewed Risk Aversion

AUD

The Aussie dollar outperformed on Thursday as metals prices rose, with familiar broader-picture themes still front and centre. AUD/USD crossed above its 200-DMA, a moving average which had been intact since Jul 6.

  • The rate has shed a handful of pips this morning amid reports of Russian shelling of a major nuclear power plant in Ukraine and subsequent unverified reports of the facility catching fire.
  • AUD/USD last trades at $0.7319, down 11 pips on the day. Bears look for a fall through Mar 1 low of $0.7239 would open up Feb 24/14 lows of $0.7095/86. Bullish focus falls on Nov 15 high of $0.7371.
  • Focus turns to ANZ job ads (Monday), NAB Business Confidence (Tuesday), Westpac Consumer Confidence (Wednesday) & consumer inflation expectation (Thursday).

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