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AUD/USD retesting 0.9065 bids, failed GrainCorp takeover weighs

FXstreet.com (Barcelona) – The AUD/USD has made a new attempt to break into fresh bear trend lows in early Asia, with prices retesting 0.9065 amid thin liquidy ahead of the Tokyo open.

ADM’s takeover of GrainCorp blocked, AUD negative

While technical continue to show a very bleak picture, the latest slide in the Australian Dollar was partly attributed to the refusal by Joe Hockey, Australia’s treasurer, on ADM’s takeover of GrainCorp, saying that “the acquisition of Australian GrainCorp by ADM is contrary to the national interest…” The US-owned ADM (Archer Daniels Midland) takeover bid was worth around $A3.4 billion.

AUD/USD technicals

Technically, according …read more