AUD/USD: The Australian dollar rose, halting a 9-day losing streak after domestic data showed home prices stabilised in July, providing some relief to the Reserve Bank of Australia. Earlier in the day, the major tumbled to a 7-month low amid growing expectations RBA will be forced into cutting official interest rates to a new low of 0.75 per cent by December after the inflation just rose by 0.6 percent in the June quarter. The Aussie trades 0.05 percent up at 0.6847, having hit a low of 0.6828 earlier, it’s lowest since Jan. 3. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6800, a break below targets 0.6744 (Jan 3 Low). On the upside, resistance is located at 0.6888 (23.6% retracement of 0.7082 and 0.6828), a break above could take it near 0.6955 (50% retracement).
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