AUD/USD added 5 pips overnight and last......>

AUSSIE: AUD/USD added 5 pips overnight and last deals at $0.7097, as AUD was

modestly supported by reported progress in the ongoing Sino-U.S. trade talks.

In his parliamentary testimony RBA Gov Lowe told Australian lawmakers that it is

"unlikely that rates will go up this year," but a hike next year "may be

appropriate," and affirmed RBA's recent shift to a more neutral stance.

- Elsewhere, a number of AU officials tried to pour some cold water on reports

stating that China has placed a ban on the imports of Australian coal. In the

Asia-Pac afternoon, the pair posted a ~15 pips spike higher, as AU Trade Min

Birmingham denied the coal rumours, after similar comments came from Treasurer

Frydenberg, PM Morrison and RBA Gov Lowe.

- A jump back above the $0.7100 figure would allow bulls to target the 200-HMA

at $0.7121, followed by the 50-DMA, which is located a further 10 pips above.

Meanwhile, bears need a fall through the cloud top at $0.7083, which has also

limited losses today, before challenging the cloud base at $0.7068.

- Focus remains on the U.S.-China trade situation, coal export matters, while

next week will see the release of the first Q4 GDP partials.