Iron ORE

AUD/USD has recovered from last week’s 0.6903 low to trade near 0.6970 despite a stronger US dollar and weaker iron ore prices. Technical traders remain cautious, with the pair still below key trend indicators as attention turns to Federal Reserve minutes.

AUD/USD was little changed around 0.7018 on Tuesday as iron ore futures fell to $92.85 and traders weighed commodity weakness against upcoming central bank and US labor-market catalysts. Technical traders are watching whether the pair can hold its recent ascending channel or break lower toward 0.6922.