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AUD/USD operates around unchanged levels,....>

AUSSIE
AUSSIE: AUD/USD operates around unchanged levels, ~$0.7420, with a sparse
domestic economic calendar apparent on Monday participants are likely to focus
on China's Q2 GDP & Jun activity data. 
- AUD/USD bears continue to look to the YtD lows ($0.7311), with a close below
potentially opening up a move to the 2017 low ($0.7142). Daily studies are well
placed for a fresh leg lower, with layers of resistance following the pair lower
adding to bearish confidence.
- Bulls now need a close above Friday's high ($0.7424) to gain breathing room
and above the 55-DMA ($0.7488) to hint at a move higher.
- Looking to the week ahead, Australian risk events include Tuesday's release of
July's RBA meeting minutes & Thursday's labour market report release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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