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AUD/USD benefitted from the broader USD......>

AUSSIE
AUSSIE: AUD/USD benefitted from the broader USD pullback on Monday, registering
a high of $0.7357, last dealing at ~$0.7345.
- The cross flirted with Thursday's session high, but has failed to generate a
clean breach thus far, leaving the short-term picture somewhat neutral. A close
above the Aug 21 high ($0.7381) is required to turn the outlook bullish.
Trendline resistance from the Jan high ($0.7410) may also slow progress on any
approach, followed by channel top resistance ($0.7453). Bears continue to focus
on the YTD low ($0.7203), which needs to hold to prevent any potential downside
acceleration.
- Thursday's Q2 CapEx data provides the focal point on the AU docket this week
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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