The two main factors today in the AUD/USD will be risk-aversion and end-of-month transactions. The former could weigh on the AUD in early trade whereas the latter should support as the day progresses.
I’m looking for a .8960/.9060 intraday trading range with a mild bullish bias.
3 Responses to “AUD/USD: Favour range trading with mild bullish bias”
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AUTOREFRESH 
I assume you’ve already heard this but
“There is a rumour that five billion of Aussie is going to bought in London for a fix tonight,”
from Tim Kelleher, via SMH
http://news.smh.com.au/breaking-news-business/a-higher-ahead-of-monthend-fixing-20100730-10yf4.html
Lots of resistance on AudJpy 200MA 8HR charts…..
Chinese Economy Strong? Depends Who You Ask
It’s a week of dueling predictions for the Chinese economy—in a debate that pits the International Monetary Fund against one of the most successful investors in the hedge fund sector.
Contrast that take with the view of Jim Chanos, founder of the hedge fund Kynikos Associates, who has been predicting for much of the year that China’s economy is overheated and destined for some sort of setback. Chanos is most famous for being one of the earliest investors to discover Enron’s dubious accounting.
http://www.cnbc.com/id/38476770