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AUDUSD – Will .7300 Hold?
Amongst all the volatility of the past several days, the Aussie has stood out as the island of calm, buffered by its still impressive 1.5% yield from the more yo-yo swings of the dollar. Although Aussie has suffered from the melt up in US rates its decline has been much more temperate.
Now however its approaching key support area of .7300. While both the euro and yen have blown past their support/resistance points the AUD/USD has remained relatively well bid holding the .7300 level so far.
Next week the calendar is quiet as we begin to approach year-end holidays, but RBA minutes could provide a boost for the pair as the central bank will likely reaffirm its neutral stance. If US rates don’t rise any further the support in Aussie should hold.