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A$ Remains In Bearish Trend, Survey Data Coming Up

AUD

Aussie was one of the better G10 performers against the USD on Monday. It finished close to flat and is now trading around 0.6573. The USD index finished slightly higher.

  • AUDUSD reached a low of 0.6555 during the European session. It remains below the 20- and 50-day EMAs reinforcing bearish conditions. Initial support is at 0.6514, August 3 low, and the bear trigger is 0.6458. Initial firm resistance is 0.6697, 50-day EMA.
  • Aussie is 0.5% higher against the yen at 93.64, close to Monday’s high of 93.70. AUDNZD moved sideways during the NY session and is currently 1.0769. AUDEUR is up 0.1% to 0.5974 but AUDGBP down 0.2% to 0.5143.
  • Equity markets were mixed with the S&P up 0.9% and the Euro stoxx +0.1% but the FTSE down 0.1% and the DAX flat. VIX is down to 15.8%. Oil prices fell 0.4% and WTI is around $82.47/bbl. Copper is 0.7% lower but iron ore is higher at around $102.50/t.
  • Today Westpac consumer confidence for August and the July NAB business survey print.
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