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Bearish Activity Dominates


Pentagon Spox Kirby Holding Presser


Corrective Cycle Extends


White House Presser Beginning Shortly

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AUSSIE: AUD/USD added 12 pips to deal at a session high of $0.7144 in immediate
reaction to the stronger than exp. NZ CPI release, before the sell-off in
AUD/NZD limited the cross. Rate last deals at $0.7139, after benefitting from
the softer USD theme during EU & NY hours on Monday.
- Bulls look for a break of Monday's high ($0.7149), with bears initially
targeting $0.7100, ahead of the October 11 NY low ($0.7091). Bigger picture,
bulls need to recover the key $0.7200 area to break the longer term downtrend,
before targeting the 2018 channel top ($0.7223). Bears need a downside break of
the YtD low ($0.7041).
- Focus today falls on the minutes from the RBA's latest MonPol decision.
- Later in the week attention will move to the domestic labour market report &
an address from RBA's Debelle.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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