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AUD continues to underperform and remains....>

AUSSIE
AUSSIE: AUD continues to underperform and remains bottom of the G10 pile with
losses of 0.41%. The earlier headlines from Italy that the coalition government
may delay the upcoming budget meeting due to a disagreement over the deficit,
hit risk into Europe. AUDUSD holds near the base of its $0.7222-68 range with
next support seen at 0.7200 ($0.7200 - 50% $0.7085-0.7315), a close below here
would see bears regain the upper hand targeting the Sep11 YTD low at $0.7085. On
the topside, long-term trendline and 50-dma resistance is seen at $0.7283/93.
Last $0.7226.  

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