AUD/USD Tests August Low as China Weighs Yuan Depreciation
The AUD/USD currency pair recently touched a low of 0.6340, marking its lowest level since November 2023. Presently, the August low of 0.6347 serves as a critical support level on both daily and weekly charts. Market sentiment remains cautious as traders evaluate the potential implications of China considering further yuan depreciation. This scenario could lead to increased volatility for the AUD/USD pair, so participants should closely monitor price movements in the coming days.
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