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*Aug1 Aussie open $0.8003, range.....>

AUSSIE SUMMARY
AUSSIE SUMMARY: *Aug1 Aussie open $0.8003, range $0.7997 to $0.8043
*Aussie opened in Asia at the upper side of yesterday's $0.7956 to $0.8004
range, where broad-based US dollar weakness was the main theme
*After treading sideways around $0.8000 demand surfaced to see the Aussie march
higher to $0.8043. Commodity prices were seen to underpin, with ore prices 
surging 4% and Shanghai steel rebar +1.75%
* Profit-taking ahead of the RBA then took hold, the pair inching lower to
$0.8020
*Post-RBA the Aussie dropped from $0.8025 to $0.7997, traders noting, RBA's
comment that higher A$ is weighing on outlook for output and employment. The
move proved only a temporary blip, the Reserve Bank leaving forecasts largely
unchanged and expects inflation to increase gradually, Aussie recovered to
$0.8038 before fading.
*Resistance is now seen at $0.8066 (Jul27 and YTD high), while hourly support is
seen building at $0.7995-97

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