AUD/USD: The Australian dollar edged up, halting a 2-day losing streak after domestic data showed business confidence improved in July but conditions remained subdued and employment waned in a worrying sign for the economy. National Australia Bank’s index of business conditions declined 2 points to +2 in July, reversing a rise in June, while business confidence edged up to +4, but below the long-run average. The Aussie trades 0.1 percent up at 0.6759, having hit a low of 0.6677 last week, it’s lowest since March 2009. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6725 , a break below targets 0.6700. On the upside, resistance is located at 6831 (38.2% retracement of 0.7082 and 0.6677), a break above could take it near 0.6879 (50% retracement).
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