By Krishna K — Aug 20 - 11:00 PM
AUD/USD unchanged in Asia after rallying to a 1-month high of 0.6752
Boosted by sagging U.S. yields as Fed rate cut optimism remains entrenched
Forecasts of sizable downward revisions to U.S. payrolls data Wed support
If correct, will intensify expectations of a 50-bps Fed September rate cut
But traders reluctant to chase AUD rally after a 2% rise since Thursday
A growing perception that a dovish Fed outlook is priced in caps gains
Resistances 0.6755-0.6764, daily highs in mid-July, stronger @ 0.6788-0.6798
Support 0.6695-0.6700,0.6670; Asia range 0.6752-0.6740
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Source:
Refinitiv IFR Research/Market Commentary