AUDUSD at six week lows as sell off extends
AUDUSD is trading this morning at .6658 (-0.72%), an almost six-week low, as its bounce to yesterdays .6723 proved short-lived, which coincidentally was the title of the Ozzie article ⬇️ yesterday.
The fall in the AUD/USD came as US yields and the USD extended their gains overnight, continuing to price in a higher chance of a Donald Trump election victory and less Fed rate cuts into year-end.
If the AUD/USD were to see a sustained break of support at .6650/25, which includes the 200-day moving average, it would open the way for the sell-off to extend towards the next downside support at .6575/60.
ig.com/au/news-and-trade-ideas/AUDUSD-rebound-may-be-short-lived-241021
The fall in the AUD/USD came as US yields and the USD extended their gains overnight, continuing to price in a higher chance of a Donald Trump election victory and less Fed rate cuts into year-end.
If the AUD/USD were to see a sustained break of support at .6650/25, which includes the 200-day moving average, it would open the way for the sell-off to extend towards the next downside support at .6575/60.
ig.com/au/news-and-trade-ideas/AUDUSD-rebound-may-be-short-lived-241021
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