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Aug 30 - 01:55 AM

AUD/USD - Capped Below 0.7320 But Buyers Aplenty On Dips

By John Noonan  —  Aug 29 - 11:43 PM
  • AUD/USD opened 0.7305 after rising 1.0% on Friday after Powell's speech nL1N2PY2C8

  • It moved up to 0.7318 early Asia before sellers ahead of 0.7320 capped

  • Stale longs pared back and the AUD/USD fell to 0.7296 when buyers stepped in

  • Heading into the afternoon it was settled around 0.7305

  • There was reaction to the mixed Aus data that contribute to the GDP nAZN051T00

  • The bias is for higher after AUD/USD completed a bullish outside day Friday

  • Resistance forming ahead of 0.7320 and break targets 0.7405/10

  • The 38.2 of the 0.7891/0.7106 move and 55-day MA converge at 0.7405/10

  • Support is at the 10-day MA at 0.7237 and break would ease upward pressure

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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