USD Trading Outlook (08-05-2015)

AUD/USD
• Europe sells Oz jobs spike, EUR/AUD lift ~1.4350 weighs, ~0.7955 at NY open
• USD strength emerges after jobless claims, applies more bear pressure
• Steady slide sees pause near 200-HMA, support eventually gives way
• S-T stops run & 0.7890 low made, late USD weakness sees lift ~0.7905
• RBA SMP due, likely dovish, if explicit more cuts due AUD to get hit
• AUD/USD may then test support in 0.7800 area

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