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Jul 22 - 04:55 AM

AUD/USD - Swift Intraday Reversal But Comes Back Bid

By Peter Stoneham  —  Jul 22 - 04:30 AM
  • Could argue that risk was over reaching but China headlines noted

  • China says U.S. told it to shut its Houston consulate - nB9N2EM02X

  • Hong Kong's Hang Seng index falls more than 2%: European bourses drop

  • Investors focus on earnings rpts, surge in virus cases and U.S. stimulus

  • AUD/USD peaked at 0.7168 before slipping to 0.7113: bid returns though

  • Long upper daily shadow a concern but weeklies remain firmly bullish

  • Previous key high at 0.7069 initial support: danger level 0.7016 Tues low

  • Bull targets: 200WMA at 0.7263 and 76.4% Fibo off 0.8136-0.5510 at 0.7516







AUD/USD daily candle chart: Click here

AUD/USD weekly Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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