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Supported Below ¥93 Handle

AUD

AUD/JPY was supported below the ¥93 handle in yesterday's trade, losses seen in the Asian session extended in Europe as an Italian windfall tax on banking profits weighed on risk sentiment. The pair erased losses as dovish Fedspeak and a recovery from session lows in US Equities aided a recovery.

  • The pair is little changed from opening levels and sits at ¥93.70/80.
  • On the downside bears now target a break of yesterday's low (¥92.90) this opens the 200-Day EMA (¥92.46) and low from 27 July (¥91.80).
  • To turn the tide bulls first look to break yesterday's high (¥93.98) and the 20-day EMA (¥94.30). This opens the high from Jul 25 at ¥95.90.

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