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Aug 11 - 06:55 AM

AUD/USD - Vulnerable, U.S. CPI Miss To Give Sellers A Chance

By Richard Pace  —  Aug 11 - 05:18 AM
  • Plenty of weight on AUD from lockdown's, China growth, Iron fall, USD bid

  • Inside day - 0.7324-49 Wed, support/resistance Tues 0.7316-55 low/high

  • Market awaits U.S. CPI - strong number can fuel USD demand, threaten support

  • 21 July low since Nov at 0.72895 is key - break opens mid 0.7000's

  • 38.2% Fibo retracement of 0.5510-0.8007 March 2020-Feb 2021 rally is 0.7053

  • Weaker CPI might prompt USD setback, but would expect dip demand

  • Resistance/likely sellers by 10-21 DMA 0.7364-73, larger offers touted .7400


For more click on FXBUZ


AUD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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