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AUD/USD fades a spike to 0.7190, despite risk-on
The AUD/USD pair took-out Tuesday’s high, although failed to sustain at higher levels and drifted lower over the last hour. AUD/USD back below hourly 100-SMA at 0.7387 Currently, the AUD/USD pair rises 0.12% to 0.7372, now heading towards session lows struck at 0.7362 in opening trades. The Aussie is seen trimming gains, with markets taking profit off the table after the rate reversed from just below 0.74 barrier. However, the prices remain underpinned on the back of upbeat second-tier economic news from Australia, with both the consumer sentiment and home loans data bettering expectations. While risk-on rally in ... (full story)