The Australian dollar loses upward momentum
The AUD/USD pair has shifted downward after attempting to reach the highs set in October and to rise above the 50-day SMA. According to the latest reports, the National Australia Bank Business Confidence Index dropped to 22 in October from 25 in September. In addition to that, the business confidence fell from 5 to 0. Amidst a general drop in investor risk appetite, pressure on the AUD/USD pair could remain.
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