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TDUX
Aug 03 - 01:55 AM

AUD/USD - Drifts Lower After Early Topside Break

By James Connell  —  Aug 02 - 11:40 PM

• AUD/USD settles just +0.1% Mon after gaining almost 0.7% in early trading

• Broader USD index overcomes fear of ongoing coordinated JPY intervention

• U.S. & JP officially confirm JPY action last week, vow to maintain efforts

• CN Jul RatingDog manufacturing PMI slows to 50.9 (poll 51.5, prior 51.7)

• AUD break back below 0.7025 would elevate reversal risk, 0.6920 possible

• AU Jun & Q2 household spending due Tue (prior +1.3%, +0.7% respectively)

• Range Asia 0.7028-69 support 0.6920 0.6866, resistance 0.70885 0.7200
AUD Hourly Bollinger Study & DXY Daily 55-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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