AUD,NZD/FXWW News

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.

 

  1. Yes unfortunately Raymond. Another bad read on my behalf or bad timing at least, which is even worse. I will update my thoughts once I know what they are 🙁 I will start worrying if we get below 8720, which is 100 pips below my average entry level

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