AUDUSD dives to fresh weekly low, below 0.6650 amid broad-based US Dollar strength – by hareshmenghani AUDUSD Fed Bonds RiskAversion Currencies
er a two-month high. The intraday downfall remains uninterrupted through the early North American session and drags spot prices to a fresh weekly low, around the 0.6635 region in the last hour.The US Dollar makes a solid comeback on Thursday and moves away from its lowest level since August 12 touched earlier this week, which, in turn, is seen exerting downward pressure on the AUDUSD pair.
On the flip side, any meaningful recovery attempted now seems to confront stiff resistance and runs the risk of fizzling out near the 0.6700 round figure. That said, a sustained strength beyond might trigger a short-covering rally and lift spot prices towards the 0.6735-0.6740 region. Bulls might then aim back towards conquering the 0.
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