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AUD/USD sees 15 pips down-move on NAB data

FXStreet (Bali) - AUD/USD saw a 15 pips move down to 0.9273 before recovering 0.9280 following a weaker-than-previous NAB Australian business data, which overall, continues to show an uptrend.

NAB notes: "Business confidence remains resilient despite easing a little in August,supported by positive forward orders, subdued cost pressures and more stable consumer confidence. Positive business conditions are also helping despite falling back in the month. Confidence varies significantly across industries, with construction firms the most optimistic by a large margin."

Jim Langlands, Founder at FXCharts, notes: "The 4 hour charts certainly look as though there could be more losses in store although there is some decent support nearby, with the base of the channel lying right here, at 0.9270. Under there, strong support lies in the 0.9240/60 area and I would be a little doubtful of heading under there today."

Australian business confidence/conditions ease in August

Australia's business conditions came at 4 vs 8 last, while business confidence was 8 vs 10 last, both weakening although still in an uptrend.
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USD/JPY: Short term targets in 106.30/107 - JPMorgan

Niall O'Connor, FX Strategist at JPMorgan, notes that in line with the bullish backdrop for the USD, the recent rally for USD/JPY suggests a growing risk of a sustained breakout.
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