AUD/USD: Likely to be pressured as China reintroduces coal levies
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 heading into the weekend.
Reports yesterday morning 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.