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Aug 26 - 07:55 PM

AUD/USD - Holds Ground Above 0.7200 On Dovish Fed Expectations

By Krishna K  —  Aug 26 - 06:35 PM
  • AUD/USD opens 0.5% higher as USD weakens broadly ahead of Thursday Fed event

  • Boosted by voracious risk appetite; global stocks jump to record high

  • Supported by heightened expectations of dovish Powell speech nL1N2FR0VM

  • Increases risk of disappointment; "buy rumour sell news" reaction may set in

  • AUD/JPY tests 76.78-76.86 resistance, highs in June, July; caution warranted

  • Australia-China & U.S.-China tensions may slow rise nL4N2FS0HWnL1N2FS0NA

  • Australia Q2 CAPEX due Thursday, expected to slump to -8.2% from prior -1.6%

  • 200-week MA at 0.7253, weekly close above will strengthen uptrend

  • Resistance 0.7240-45, 0.7275, 0.7295-0.7300; support 0.7205-10, 0.7185-90

  • For more click on FXBUZ


The Fed plots an inflation catchup: Click here

Source:
Refinitiv IFR Research/Market Commentary

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