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AUD/USD pulls back from 0.6799 again
As noted here in previous updates, the AUD/USD topped out at 0.6799 on July 11. The slide that followed into August 5 saw it slump to a low at 0.6350. Updates here since then have noted the rebound taking it back closer to that July 11 peak. Well, on Friday the AUD/USD managed to exactly reach that level. It later closed in the US at 0.6795. The high seen so far today has been set at 0.6797 and it has backed away from that high just now. It seems like AUD/JPY might be getting in the way of further upside for the AUD/USD for the time being. The AUD/USD high seen right at the start of 2024 was set at 0.6839 and that was on January 2. So, if the Aussie can eventually vault the 0.68 handle this week, that looks like the next level on the radar. The low seen so far today has been set at 0.6772. The next important Australian economic release comes this week, on August 28 and it is the latest CPI report. The AUD/USD is currently trading at 0.6779
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