Iron-ore prices traded on the Chinese Dalian Commodity Exchange (DCE) fell for the third straight day this Wednesday, down nearly 2% in early trades to CNY 612 ($86.64) a tonne, in the wake of increased supplies from big miners and a potential delay in the US-China trade deal.
Shipments of the steelmaking raw material from Brazil and Australia stood at 22.7 million tonnes during the week of Oct.21-27, up by 3.0 million tonnes from a week earlier, according to data compiled by Mysteel consultancy.
The drop in the ferrous metal’s prices seems to have limited the upside attempts in the AUD/USD pair. The spot currently trades near 0.6860, supported by in-line with estimates Australian Q3 inflation figures.
It’s worth noting that iron-ore, one of Australia's top exports.
AUD/USD Technical levels to watch
|Today last price||0.6858|
|Today Daily Change||-0.0006|
|Today Daily Change %||-0.09|
|Today daily open||0.6864|
|Previous Daily High||0.6872|
|Previous Daily Low||0.6834|
|Previous Weekly High||0.6884|
|Previous Weekly Low||0.6808|
|Previous Monthly High||0.6895|
|Previous Monthly Low||0.6687|
|Daily Fibonacci 38.2%||0.6858|
|Daily Fibonacci 61.8%||0.6849|
|Daily Pivot Point S1||0.6842|
|Daily Pivot Point S2||0.6819|
|Daily Pivot Point S3||0.6804|
|Daily Pivot Point R1||0.688|
|Daily Pivot Point R2||0.6895|
|Daily Pivot Point R3||0.6917|
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