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Aug 04 - 07:55 PM

AUD/USD - Bid On Dips, Global Growth Concerns Cap Rally

By Krishna K  —  Aug 04 - 06:30 PM
  • AUD/USD likely to remain well supported in Asia after rising 0.2% Thursday

  • Boosted by broadly lower USD as US yield soften on global recession concerns

  • Record Australia trade surplus, rising expectations of robust AU GDP support

  • RBA releases its latest forecasts for growth and inflation on Friday

  • US-China tensions and China property sector concerns limit rally potential

  • Focus turns to Fri US jobs data; NFP expected to rise by 250K jobs in July

  • Resistance 0.6995-0.7000, 0.7025-30, support 0.6940-45, 0.6900-10

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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