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Sep 02 - 01:55 PM

AUD/USD - Rally At A Key Juncture, Break Hinges On US Jobs Data

By Christopher Romano  —  Sep 02 - 12:22 PM
  • AUD/USD rally off the Aug 20 daily low extends to a 20-session high

  • Pair climbs above the 55-DMA, daily cloud base and then stalls near 0.7410

  • Rally paused in the key 0.7400/25 resistance area ahead of US jobs data

  • AUD/USD longs likely need a downside miss for the rally to resume

  • Downbeat data likely leads investors to push back expectations for Fed taper

  • Should the rally resume & August's high break stops likely get triggered

  • Longs then likely target 200-DMA, July monthly high near 0.7590/0.7610

  • For more click on FXBUZ


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Source:
Refinitiv IFR Research/Market Commentary

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