The Chinese data and the risk-aversion associated with the US debt-talks have caused the AUD to lose some of last week’s bullish momentum on the crosses. AUD/JPY fell by almost 100 pips off Friday’s highs and AUD/NZD has surprisingly lost momentum after a few very strong up days. GBP/AUD should also be watched closely after technical support levels near 1.6860 basically held firm.
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