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AUD Pulls Back After Australian CPI Data

AUSSIE

AUD shakes off earlier strength after the released of mixed Q2 CPI figures,
which printed fairly close to expected values.

  • AUD/USD bottomed out at $0.7149, last sits -3 pips at $0.7154. Initial
    support is at $0.7064/63, which represent Jul 24 low/Jun 10 high.
  • AUD/NZD pulled back from highs, but still trades +11 pips at
    NZ$1.0757. Initial support seen at NZ$1.0690, the 50-DMA.
  • AUD/JPY erased earlier gains, last trades flat at Y75.22. Bears keep an
    eye on Jul 24 low of Y74.87.
  • All crosses have stuck to relatively narrow ranges.

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