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AUD has come under some modest pressure in...>

AUSSIE
AUSSIE: AUD has come under some modest pressure in early dealing this week, on
the back of weekend headlines from the WSJ noting that China has cancelled the
planned trade talks with the U.S. amid escalation of tariff threats. AUD/USD
last ~$0.7275.
- Pressure on cable limited AUD/USD on Friday, as Brexit related headlines
crimped risk appetite in FX trade.
- AUD/USD challenged but failed to break 50-DMA ($0.7305) on Friday, with any
close above this level set to change the short term technical outlook.
Conversely, failure to hold above $0.7250 and a subsequent reversal through
$0.7200 would bring the YTD low ($0.7085) back into focus.
- The AU docket is limited this week, so focus will likely fall on the broader
risk setting.
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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