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Australian dollar touches the low of the year, then hesistates

This is a tough one.AUD/USD broke support earlier today and touched the lowest since November 2022. The decline today is 77 pips and comes after the Reserve Bank of Australia left rates unchanged. That was widely expected (I thought) but not as much I thought as Aussie selling hit afterwards.Obviously, Chinese growth worries are weighing on AUD but some optimism is also creeping in and data is showing that Chinese steel mills are running at high capacity.The USD side is where it gets even toughe... Read More

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Australian

Dollar

Touches

Year

Then

Hesistates

Forex

Posted: Sep 5 2023, 16:38

Author Name: forexlive

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