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AUDUSD TECHS

Southbound

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Bearish Cycle Still In Play

US DATA
US DATA: April construction spending flat, below the expected +0.4% by  
Bloomberg and by MNI. 
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- March rev up to +0.1% from -0.9%.
- Private res building -0.6%. Within the category, 1-family flat, 
multi-family +2.3%, and remodeling -2.5%, based on an MNI calc.
- Private nonres building -2.9%, led by manufacturing (-7.2%), 
commercial (-4.5%), and health care (-3.9%).                                   
- Public construction +4.8%, after Mar rev up to +0.5% from -1.3%. 
State and local gov building +4.6%, while federal gov construction  
+7.4%.