Month and quarter end rebalancing flows passed by without causing too much volatility, nonetheless it did provide AUD/USD with a modest bid. However, gains were short-lived with the pair back below 0.76 and softer than expected trade data prompting a break below the YTD (0.7562). Having posted fresh 2021 lows the close will be important, in which a close below 0.7562 opens the door towards the 0.7500 handle. On the topside, any recoveries are likely to be capped by the 100DMA situated at 0.7632.
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