Dow Jones piece. Westpac recommending selling AUD/USD in high .8700’s/low. 8800’s region, “represents good risk reward at start of Q3.”
Downside target .8400, stop just above .8900, which covers 61.8% retracement level of the high .9300 to .8000 downside move.
Westpac say “market is not recognising the potential for a further slowing in Chinese data momentum over the next month.”