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Aud/Usd based ahead of $0.7550 ($0.7552......>

AUSSIE
AUSSIE: Aud/Usd based ahead of $0.7550 ($0.7552 low) yesterday with the minor
recovery extending through Asia to $0.7581. Demand reportedly stemming from
domestic hedging interests was countered by leveraged sellers to hold either
side of $0.7570 at the European crossover. There was talk out overnight that the
government will scrap its plans to increase the Medicare levy by A$57bn in a
powerful demonstration of faith in economic growth. Treasurer Morrison is
expected to confirm this in the May8 budget. Expect resistance ahead of $0.7600,
a break opens $0.7606/08 (Apr25 high/Base 1.0% envelope 10-dma). Aud/Usd last
$0.7571.

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