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Despite soft data and mostly lower...........>

AUSSIE
AUSSIE: Despite soft data and mostly lower regional equities the Aussie is
proving resilient, the rata currently holds $0.7969 toward the upper side of the
$0.7935 to $0.7973 range seen so far. Q2 Business inventories released earlier
came in at -0.4% against expectations of +0.3%, at first glance this data should
have a negative impact to Wednesday's Q2 GDP. Intraday day support is coming
from commodities, Shanghai steel is up 3.1%, copper up 0.95% and Dalian ore
+1.0%. Resistance is located at $0.7994-96 (Sep1-Aug30-4 highs), with supply
then cited at and above $0.8000, while Asia's base of $0.7935 is support.  

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