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Taking Advantage Of Risk Environment

AUD

The Aussie dollar went bid Wednesday, benefitting from continued demand for riskier assets. Buoyant commodity complex helped generate buying momentum. AUD/USD registered its best levels since Jan 21, while having a look above its 50-EMA.

  • AUD/USD trades flat at $0.7179, which represents the aforementioned 50-EMA. Renewed gains past Wednesday's high of $0.7195 would bring Jan 20 high of $0.7277 into play. Bears look for a dip through Feb 4 low of $0.7052 before targeting Jan 28, 2022/Jul 16, 2020 lows of $0.6968/63.
  • Australia's consumer inflation expectations will be published at the top of the hour, with RBA Gov Lowe set to appear before the House of Representatives Standing Committee on Economics on Friday.

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