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Australian dollar recouped more than two thirds of post U.S. election decline and is among better performers against the U.S dollar of late. Relatively high yield and rising copper prices are two factors that have been supporting the currency.
The correction stalled ahead of 0.75 which coincides with 38.2% retracement of the mentioned decline. The resistance zone is reinforced by 200 DMA, running just above the big figure. 0.7425 is the initial support.
The correction stalled ahead of 0.75 which coincides with 38.2% retracement of the mentioned decline. The resistance zone is reinforced by 200 DMA, running just above the big figure. 0.7425 is the initial support.