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AUD crosses knee-jerk spiked higher in the...>

AUSSIE
AUSSIE: AUD crosses knee-jerk spiked higher in the wake of the RBA MonPol
decision. The Bank left its OCR unchanged, as expected, with little tweaks to
the language employed in the statement. The RBA said that it sees a gradual
pick-up in inflation, given the continued tightness in the labour mkt, and that
it also sees the unemployment rate continuing to decline.
- AUD/USD last trades at $0.7076, with bears looking to the Feb 21 low/cloud top
at $0.7070/69. Below opens the 1.0% 10-DMA envelope at $0.7051. Bulls initially
focus on $0.7097, which has capped gains thus far.
- AUD/NZD last seen at NZ$1.0405, 5 pips better off. Bulls continue to target
yesterday's peak/21-DMA at NZ$1.0435/41, while bears look for a breach of Feb 14
low at NZ$1.0369.
- AUD/JPY last deals at Y79.17, 7 pips lower on the day. Bears look for a fall
below the 21-DMA at Y78.85, ahead of the 50-DMA at Y78.38. Conversely, bulls
need to clear Y79.63/65, where the rate peaked on Monday/Friday.

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