During the Asian session, we definitely had movement in the FX markets, with the Australian dollar remaining in focus. 10 pips down due to weaker data on Australia's weekly consumer sentiment 112.8 current vs 115.5 forecast. The price dropped to 0.67544, but traders were also focusing on the upcoming RBA Minutes. During the report and after, the currency recovered, rising from the bottom by 28 pips. Hawkish rhetoric and impending stimulus from China have strengthened the Australian currency. Earlier, the mining giant BHP confirmed that despite the trade war, there was still a strong demand for natural resources from China.
On a daily basis, we also have short-term consolidation, given the month of low liquidity we are in. Below, we have support at the 0.67350 area, and at the top the resistance level at 0.68150 will limit attempts to climb. There is currently no catalyst to direct the breakthrough movement in either direction.
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