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Fundamental Analysis
AUD/USD
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[QUOTE="ForexSignalses, post: 160596, member: 59138"] [B]AUD/USD struggles unventilated weekly lows, just knocked out 0.7100 handle[/B] The USD preserves the previous sessions upbeat US data-led gains. Bulls shrug off improved than confirmed Chinese manufacturing PMI print. Traders now eye US economic docket for some meaningful opportunities. The AUD/USD pair now seems to have entered a bearish consolidation phase and was seen consolidating in a narrow trading band stuffy the lower subside of its weekly trading range. Having faced desertion near the 0.7200 handles earlier this week, the pair came under some added selling pressure going on for Thursday in imitation of stronger than traditional US economy, especially a rapidly stronger GDP mount occurring figures. The assist GDP estimate showed that the US economic accumulation going on stood at 2.6% annualized pace in the last quarter of 2018 and the Chicago PMI rose to a reading of 64.7 in February as compared to 56.7 in the previous month. Upbeat US economic data triggered a lighthearted leg of an upsurge in the US Treasury friendship yields, which provided a goodish lift to the US Dollar and eventually exerted some subsidiary downward pressure upon the major. The China-proxy Australian Dollar held upon the defensive and failed to deed out any respite from Friday's pardon of bigger-than-usual Caixin China manufacturing PMI, which jumped to 49.9 in February from 48.3 in January. Moving ahead, serve participants now see attend to the US economic docket, highlighting ISM manufacturing PMI and revised UoM Consumer Sentiment index, for some well-ventilated impetus upon the last trading hours of daylight of the week. [/QUOTE]
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