FxWirePro: Antipodeans under fire on yuan devaluation, AUD/USD slumps to 0.7322
AUD dumped on Yuan fix, dives to 0.7322, from a three-week peak of $0.7440 The PBOC decided to lower the RMB 'fix' by the most on record today (-1.9%), AUD hammered on the news The depreciation in the Yuan exchange rate …
AUD dumped on Yuan fix, dives to 0.7322, from a three-week peak of $0.7440
The PBOC decided to lower the RMB 'fix' by the most on record today (-1.9%), AUD hammered on the news
The depreciation in the Yuan exchange rate has negative repercussion for the Australian economy
Not helping the Aussie was a survey showing local business confidence and conditions weakening in July in spite of relatively healthy sales and profits
Immediate resistance is found at 0.7336 (4h Cloud Top), while supports on the downside are seen at 0.7304 (Session low Aug 11), and then 0.7284 (Session low August 4)
