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Breaks Above Friday's Range

AUD

AUD gathering some steam after data, AUD/USD up 6 pips at 0.7317 and breaking above Friday's high after data showed Q2 company profits rose 7.1% Q/Q against estimates of a 2.5% rise, inventories rose 0.2% compared to 1.2% expected. The upside in AUD/USD ignores the latest coronavirus case numbers from NSW which saw another 1,290 cases, a record high. Next resistance seen at 0.7341, the Aug 17 high.

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