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AUD: Coal levies in China a negative input

FXStreet (Bali) - AUD is likely to be pressured heading into the weekend, after China announced the re-introduction of levies on coal import tariff.

Sean Lee, Founder at FXWW, notes: "Reports on Reuters say that China, which is the world’s largest importer of coal, will reintroduce import tariffs of between 3%-6%. Australia is the top supplier of coal to China and this news will definitely have an adverse effect on AUD sentiment."

Sean adds: "Reports yesterday suggested solid bids in AUD/USD near .8760/70, but I’m not sure if they are still live. First technical support of note is hourly support near .8730."

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