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Struggling For Gains

AUD

AUD/USD traded sideways Wednesday, with both sides of the pair struggling against other G10 currencies. The greenback showed weakness, but risk aversion related to scepticism surrounding Russia-Ukraine peace talks kept a lid on the Aussie dollar, despite higher commodity prices.

  • The rate trades flat at $0.7510 at typing, with bulls looking to a clearance of Mar 28 high of $0.7540 before targeting Oct 28 high of $0.7556. Bears look for a sell-off past Mar 23 low of $0.7450 towards Mar 22 low of $0.7376.
  • Job vacancies, building permits & private sector credit headline the local docket today, with Chinese PMI data also due to provide some interest.
  • Final S&P Global PMI, CoreLogic House Price Index & housing finance data will take focus in Australia on Friday.

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