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Sep 03 - 08:55 AM

AUD/USD - A Big Fibo Is Threatened Ahead Of US Jobs Data

By Christopher Romano  —  Sep 03 - 07:19 AM
  • AUD/USD rallies to 1 1/2-month high on US$ sales, USD/CNH dips below 6.4400

  • Equity ESv1, copper HGv1 & iron-ore DCIOc2 gains also buoy AUD/USD

  • Pair hits 0.74375, lift stalls near 38.2% Fib of 0.8007-0.71065 decline

  • Technicals suggest Fibo break, further gains are very likely

  • 55-DMA & daily cloud are support, Aug high breaks, daily & monthly RSIs rise

  • US Aug. jobs data due, result likely to be a factor in Fed's taper timing

  • An upbeat employment report could erode much of AUD/USD's recent rally

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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