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Aug 16 - 11:55 AM

AUD/USD - Slowing China Growth Hits Commods; AUD/USD Eyes Trend Low 0.7290

By Christopher Romano  —  Aug 16 - 09:48 AM
  • AUD/USD enters NorAm near session lows -0.57% at 0.7334; Mon range 0.7373-23

  • Weak China data hints at reduced glbl growth, NY Fed Mfg also tames bulls

  • Haven yen, USD & USTs sought; Powell Tuesday, Fed mins Wed in focus

  • Commods Oil, copper hit on reduced China-led global growth, inflation view

  • COVID risks rising in Australia; Melbourne lockdown extended nL1N2PM0RX

  • AUD/USD remains caught in range b/w 30-DMA 0.7392 and lwr 21-d Bolli 0.7291

  • AUD/USD longs need 0.7425/45 break to alleviate immediate bear pressure

  • Bears dominate, bulls need a rise abv 50% Fib of 0.7891-0.7290 at 0.7590

  • For more click on FXBUZ

AUD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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