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Aug 06 - 02:36 AM
AUD/USD - Whips Around With USD/CNH As RBA Not A Factor
First appeared on eFXplus on Aug 06 - 12:45 AM
  • AUD/USD eased to 0.6750 when US named China as ccy manipulator nFWN2510YK
  • News sent AUD/JPY down to 71.20, as risk assets fell on trade war escalation
  • AUD/JPY reversed as PBOC calmed markets with lower than expected USD/CNY fix
  • USD/CNH traded from early high at 7.1382 to below 7.0700
  • AUD/USD traded back to 0.6790 when S&P futures recouped 1.5% early loss
  • AUD/USD was around 0.6772 when RBA decision unchanged and statement benign
  • It traded to session high at 0.6795 before easing back to 0.6780
  • Resistance @ Monday 0.6803 high as break ends 11 days of lower highs
  • Support at 0.6750 and flash crash low at 0.6715

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Source:
Refinitiv IFR Research/Market Commentary

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