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Better Jobs Data & CNH Gains Drive Outperformance


AUD/USD has continued to tick higher post the better than expected June employment report. We sit at 0.6825/30 currently, a touch below session highs of 0.6833. This is +0.85% above NY closing levels from Wednesday, with the A$ the strongest performer in the G10 space so far today.

  • For AUD/USD resistance is at 0.6900 the June 16 high. Support on the downside is at 0.6754 the July 19 low, while the 20-day EMA is at 0.6746.
  • Outside of the jobs report, we are also seeing positive spill over from CNH gains, which have been evident post the stronger CNY fixing and macroprudential policy changes, which may encourage capital inflows.

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