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AUSSIE

AUD takes the lead in G10 FX space, with price action still taking its cue from the equity space. E-minis have turned green and stock benchmarks in Japan and Australia have headed higher, helping alleviate the earlier defensive feel.

  • AUD/USD sits +12 pips at $0.7314. AUD/JPY trades at Y77.01, virtually unchanged on the day. In both cases, familiar technical pictures outlined earlier remain in play.
  • AUD/NZD deals at NZ$1.0880, 5 pips better off. A break above Sep 10 high of NZ$1.0936 would shift focus to Sep 1 high of NZ$1.0960. Conversely, a dip through the 50-DMA at NZ$1.0828 would open up Sep 3 low of NZ$1.0816, the key near-term support.

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