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Short term AUD move still following broad USD direction


USD index remain to grid slightly higher despite US stock and UST yield coming down gradually, USDJPY hold above 109 which driven some upside test again and resistance at 109.50. Overall, USD will remain in consolidation after 3% gains recently and some minor swinging will be shortlived.

EUR and GBP stays in lower side consolidation despite oversold technical, support for EUR around 1.2000-20 region and GBP around 1.3710-20 region with topside sellers around 1.2100-10 and 1.3800-10 respectively.

RBA keep rate unchanged at 1.5% same as expected and statement similar with previous one have overall no impact for the AUDUSD. Short term AUD move will still follow broad USD direction.

Today Labour Day holiday and most of Asian and European countries out will see light flow in the market and positioning remain neutral overall.


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