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Instrument: AUDUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 0.71539 with take profit at 0.71694.
Bearish Preference:
A Sell position is envisaged if price trades below price 0.71249 with take profit at 0.71096.
Fundamentals:
U.S ZONE: Treasury Currency Report (Tentative)
Comment:
The Australian Dollar had weakened going into the data as risk aversion took hold across the board today. Retail sales for the month of October came in at 4.9%, well above forecasts of 2.2% and the previous month’s 1.3%. AUD/USD initially found some support, but risk assets such as the Aussie remain under pressure.
Analysis: SCRUM Team
