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USD/CNH's move back above CNH6.7000, after...>

AUSSIE
AUSSIE: USD/CNH's move back above CNH6.7000, after a brief foray below, saw
AUD/USD off of highs around the release of in-line with exp. Chinese GDP data,
coupled with a softer than expected Chinese industrial production reading.
- AUD/USD last trades unchanged at ~$0.7420.
- AUD/USD bears continue to look to the YtD lows ($0.7311), with a close below
potentially opening up a move to the 2017 low ($0.7142). Daily studies are well
placed for a fresh leg lower, with layers of resistance following the pair lower
adding to bearish confidence. Bulls now need a close above Friday's high
($0.7424) to gain breathing room and above the 55-DMA ($0.7488) to hint at a
move higher.
- Looking to the week ahead, Australian risk events include Tuesday's release of
July's RBA meeting minutes & Thursday's labour market report release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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