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  • USD/JPY extends the rebound from the weekly low (109.11) as the stronger-than-expected US Retail Sales report fuels speculation for an imminent shift in monetary policy. Get your $USDJPY market update from @DavidJSong here:https://t.co/Rozq62yAou https://t.co/toaAHiCavK
  • S&P 500 Sinks on Evergrande Risks Ahead of FOMC, Airline Stocks’ Outlook Brightens #trading $SPX $NDX $DJIA $JETS $AAL $DAL $LUV $UAL https://t.co/tBmej9p6sq
  • There was some serious BTD action in that final hour of New York trade. With the FOMC on Wednesday, the freeze usually associated with anticipating a big event could help curb a deeper slump. If risk aversion continues despite the attention, it would concern me.
  • The S&P 500 staged a late-day rally, but still closed down by roughly 1.7% $SPX $SPY $ES https://t.co/SjbbOUXtiV
  • *FAUCI: GOOD CHANCE OF VACCINE FOR CHILDREN BEFORE END-OCT $SPX $NDX $USD
  • Gold posting decent gains for the session, up just shy of 0.5% as risk-assets broadly decline $XAUUSD #Gold https://t.co/uCYLg6Eqjy
  • USD/CAD spiked to start the week, setting a fresh September high at 1.2986. Get your $USDCAD market update from @JStanleyFX here:https://t.co/mx9lzAtbVS https://t.co/0kYUz6LpOA
  • RT @YahooFinance: “When you look at what’s going on in the Chinese bond indices, it appears that this is still contained to the real estate…
  • House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer seek a suspension of the debt limit through Dec. 2022 - BBG $USD $DXY
  • Dow now down -2.5%. Worst single-day drop in 11 months
AUD/USD Headed for .7400

AUD/USD Headed for .7400

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Headed for .7400

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-It’s been slow going but Aussie is pulling back from ‘an important juncture’. As noted previously, “AUD/USD is approaching an important juncture defined by slope considerations and the pre-May rate cut high at .7719. This level may be resistance but a break above would leave Aussie in full blown bull camp with the focus on the May 2015 high at .8163 and eventually an .8700 handle.” See what kind of weakness can materialize off of this level but major support is near .7380-.7400.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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