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AUSSIE
AUSSIE: AUD also benefitted from the equity supporting measures out of China,
with AUD/USD adding 10 pips on the session to last deal at $0.7110, registering
a high of $0.7712 overnight.
- The rate ignored the marginal miss in headline Chinese GDP Y/Y. 
- Thursday's reaction to Aussie labour mkt data was muted, participants noted
that the fall in unemployment came as a result of the lower than expected
participation rate, which limited AUD upside.
- Resistance is noted at the 21-DMA ($0.7152). Bulls need a close above the
psychological $0.7200 level before targeting the 2018 channel top at $0.7209,
while bears look for a break of $0.7044.
- Focus this weekend falls on a key local Australian by-election, which has the
potential to remove the ruling govt's slim majority.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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