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AUD/USD In Position to Challenge Major Retracement Zone at .6877 to .6925
The Australian Dollar is trading at a four-week high early Monday as investors continue to react to last week’s positive September employment change report, optimism over a U.S.-China trade deal and hawkish comments from Reserve Bank of Australia (RBA) Governor Philip Lowe. At the end of last week, financial market traders reduced the chance of a back-to-back 0.25 percentage point interest rate cut in November to just 16 percent from almost 50 percent last week. At 03:30 GMT, the AUD/USD is trading .6892, up 0.0006 or +0.09%. Daily Swing Chart Technical Analysis The main trend is up according to the daily swing ... (full story)