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AUD

Drops From Session Highs

JAPAN DATA

Japan Jun Exports +48.6% Y/Y; 4th Monthly Rise

CHINA RATES

China Repo Rates Diverge on Wednesday

CHINA PRESS

China May Further Cut Financing Costs in H2: Daily

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  • RES 4: 0.7776 High Jun 11
  • RES 3: 0.7720 50-day EMA
  • RES 2: 0.7645 High Jun 17
  • RES 1: 0.7561 Intraday high
  • PRICE: 0.7492 @ 15:45 BST Jun 18
  • SUP 1: 0.7485 Low June 18
  • SUP 2: 0.7462 Low Dec 21, 2020
  • SUP 3: 0.7372 1.236 proj of Feb 25 - Mar 9 - 18 price swing
  • SUP 4: 0.7339 Low Nov 30, 2020

AUDUSD remains under pressure registering fresh lows again Friday. The pair has traded below key support at 0.7532 Apr 1 low and price has also breached the 200-dma. The move lower confirms a resumption of the reversal that occurred Feb 25 and signals scope for a deeper pullback towards 0.7462, the Dec 21, 2020 low. On the upside, initial resistance is at 0.7561, Friday's intraday high.