Wed, Feb 01, 2023 @ 07:11 GMT
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AUD/USD Bounces off Key Floor

The Australian dollar recovers over a rebound in risk appetite. Stiff selling at September’s high of 0.6880 had put a dent to the market’s recovery mood. Short-term traders have taken some chips off the table after an initial fall below 0.6770 which has become a fresh resistance. The current bounce off 0.6630 will need to clear offers ahead before it could gain a solid foothold, then the previous high of 0.6880 would be next. A bearish breakout might put the aussie at the risk of a bearish continuation in the medium-term.

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