• AUD USD slumped from session high level of 0.7473 to hit lows of 0.7371 on talks of PBOC allowing the Yuan to devalue further.
   
• Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-rejected-at-session-highs-by-07472-good-to-sell-on-rallies-229607) has achieved all targets.
   
• The pair has since pared most of the losses and has reclaimed the 0.74 handle and is currently trading around 0.7438 levels.
   
• Bias for the pair higher as long as support at 0.7422 (20-DMA holds), break below could see downside upto 0.7332.
   
• Resistance on the upside aligns at 0.7447 (10-DMA) ahead of 0.7456 (June 29th highs).
   
• Focus now on US weekly jobless claims and Chicago PMI data, scheduled later during NA session.
   
• Apart from the US data, Friday's release of Chinese manufacturing PMI for the month of June will also be watched for further direction.