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AUDCNH Basin Formation
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UPDATE: AUDUSD @0.7570 AUDH16 (LIQ) AUDEUR @0.6783 AUDCNH @4.9045
Interestingly enough, market focus is on the three correlated pairs the way we see a perspective on trading these pairs that is based on expectation of increasing market volatility in the near term. Light reports for the week with the exception of how China's massive cash outflow and the increase iron ore prices in commodity markets affect the AUD & CNH.
On the other hand, ECB speculation on additional stimulus and recent talks of BREXIT are increasingly crossing the wires as these would greatly affect the market prices moving forward in the near term. Fundamentally motivated markets will be the dominant factor affecting these currency pairs. For now the market front has been real quiet with the commodities market taking the limelight with iron ore and oil prices sustaining their rise to this writing.
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