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Jul 16 - 07:55 AM

AUD/USD - Deflated By Profit-Takes Pre-US Retail Sales Data

By Rob Howard  —  Jul 16 - 05:45 AM
  • AUD/USD drops to test 0.6733 (July 10 low) ahead of US retail sales data

  • Drop influenced by profit-taking on longs after 0.68 resistance holds

  • CFTC data showed net AUD position recently flipped to first long since 2021

  • US June retail sales data due at 1230 GMT; minus 0.3% MM forecast

  • 0.6724 (last week's low) and 0.6700 are AUD/USD support levels below 0.6733

  • Trump steps into Republican convention spotlight after surviving shooting

Source:
Refinitiv IFR Research/Market Commentary

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