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31 Mar 2015
Aussie under pressure on Iron ore decline
FXStreet (Bali) - The Australian Dollar has come under pressure in early Tokyo, as Chinese (Dailain) Iron Ore futures open down over 3% on glut concerns and weak demand.
Jim Langlands, Founder at FXCharts, notes: "With little bounce from the session low of 0.7632, further weakness seems to lie ahead although 0.7600/10 will provide some decent support, having held on the last couple of attempts, but a break of which would then suggest a return to the trend low at 0.7559."
Jim Langlands, Founder at FXCharts, notes: "With little bounce from the session low of 0.7632, further weakness seems to lie ahead although 0.7600/10 will provide some decent support, having held on the last couple of attempts, but a break of which would then suggest a return to the trend low at 0.7559."