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AUD/USD Trade below day pivot


The AUD/USD pair drops -0.40% to 0.7408, hovering within a striking distance of 0.7400, fresh session lows. The Aussie finally broke the consolidative mode seen over the past few hours and extended to the downside as the bears tightened their grip after the yellow metal stalled its recovery and dived deeper in the red.
Moreover, downbeat domestic data, including jobs ads and construction index weighed on the sentiment, while the prevalent cautious tone on the back of the latest Chinese 2016 official GDP announcement and before the Chinese trade numbers due tomorrow, further pressured the OZ currency.
Markets will keep an eye on the US labor market conditions report and speeches from Fed officials Brainerd and Fischer for fresh updates.

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