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USD Marginally Lower In Early Trade

FOREX

The greenback is a touch lower in early trade on Tuesday however ranges do remain narrow. US Tsy Yields are ~1bp lower across the major benchmarks and US Equity futures are a touch firmer.

  • AUD/USD is up ~0.1% marginally extending yesterday's gains. Technically the outlook remains bearish, support comes in at $0.6287 2.00 projection of the Jun 16-Jun 29-Jul 13 price swing. Resistance is at $0.6501, high from Sep 29.
  • Kiwi is also marginally firmer however a narrow ~10pip range has been observed thus far. Net Migration rose to 9980 in August, the prior read was revised higher to 6440.
  • Yen is firmer, USD/JPY is down ~0.1% however ranges are narrow. Technically the pair is still in an uptrend, key support is at ¥147.43 the low from Oct 3 and resistance is at ¥150.16 high from Oct 3 and bull trigger.
  • Elsewhere in G-10 there has been little movement, BBDXY is down ~0.1%.
  • The docket is thin for the remainder of the Asian session today.
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