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POPULAR NEWS
Wall Street Ends Sharply Higher On German Stimulus Optimism

U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week. While all three major U.S. stock averages ended the session higher, they still logged their third consecutive weekly losses, having been rattled since Monday by growing U.S.-China trade animosity, simmering geopolitical tensions and signals from the bond market that sparked fears of impending...

AUD/USD hit one-month low after bear flag breakdown
Friday, 15 June 2018 10:49 WIB | CURRENCIES |AUD,AUD/USD,

The AUD/USD pair hit a one-month low of 0.7453 in Asia and looks set to extend losses further.

The spot closed at 0.7479 yesterday, confirming a bear flag breakdown - a bearish continuation pattern, which indicates the sell-off from the April 19 high of 0.7813 has resumed and the pair could drop to 0.7125 (target as per the measured height method) in short-run.

The AUD also looks weak from the fundamental perspective. The Fed raised rates by 25 basis points earlier this week and signaled faster rate hike path. Meanwhile, the RBA is not seen raising rates any time soon.

Thus, US-Australia bond yield differential will likely continue rising in the USD-positive manner.

AUD/USD Technical Levels

Support: 0.7412 (May 9 low), 0.7371 (May 27, 2017 low), 0.7328 (May 6, 2017 low).

Resistance: 0.7478 (session high), 0.7539 (falling/bearish 5-day moving average), 0.7584 (10-day moving average).

Source: FX Street

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POPULAR NEWS
Wall Street Ends Sharply Higher On German Stimulus Optimism

U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week. While all three major U.S. stock averages ended the session higher, they still logged their third consecutive weekly losses, having been rattled since Monday by growing U.S.-China trade animosity, simmering geopolitical tensions and signals from the bond market that sparked fears of impending...

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