By Justin Mcqueen — Sep 04 - 08:00 AM
Tight range (0.6446-0.6480) for AUD/USD in holiday-thinned trade
RBA policy decision due, pause expected in Governor Lowe's final meeting
AUD shorts struggle to add pressure given stable yuan, firm commodities
Continued improvement in yuan required for AUD to grind higher
However, topside resistance remains a stumbling block at 0.6500-22
Also, Friday's key day reversal offers a warning for rebound hopes
Bulls require a close above 0.6500 to increase confidence
Support: 0.6440 (post-NFP low), 0.6450 (post-AU CPI low), 0.6400
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Source:
Refinitiv IFR Research/Market Commentary