By John Noonan — Aug 10 - 07:10 PM
AUD/USD opens -0.20% after giving back hefty gains in a volatile session
It traded to 0.6617 after softer US CPI before reversing lower nL1N39R1CK
Rebound in US yields after initial fall broadly supported the USD rebound nL1N39R2KM
AUD/USD gained before US CPI on report China looking to help property sector
Bearish outside day reversal leaves the bears back in control
AUD/USD bids tipped around 0.6500 with support at 2023 low at 0.6459
Resistance is at 10-day MA at 0.6566 and close above relieves the pressure
More resistance is a the 38.2 of 0.6895/0.6497 move at 0.6649
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Source:
Refinitiv IFR Research/Market Commentary