EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
We saw the Aussie moving sideways overnight after touching its support of 0.7200 against the USD yesterday afternoon. Under the global risk-off sentiment feeding into a stronger USD and a major commodities sell-off, the AUD, seen as a proxy currency to emerging markets and the Chinese economy appears to be destined to test the next major support at 0.7150 against the greenback.
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