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Aug 10 - 02:55 AM

AUD/USD - Longs Should Look Out For Potential Fibo Breakdown

By Ewen Chew  —  Aug 10 - 01:25 AM
  • AUD/USD faltering, last 0.6954 vs Tues close 0.6962

  • May sink under Ichimoku cloud base at 0.6942 amid risk-off

  • That will expose critical support 23.6% Fibo at 0.6913

  • If that barrier is breached on daily close, longs may bail

  • AUD/USD pressure builds in anticipation of US CPI data

  • Potentially above-forecast core CPI should boost USD

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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