AUD/USD briefly topped $0.7400, but..........>

AUSSIE: AUD/USD briefly topped $0.7400, but continues to feel pressure after the

latest round of trade war headlines hit on Tuesday, last dealing at $0.7390,

unchanged on the day.

- This came after the cross moved to lows of ~$0.7370 on the back of a bout of

risk off flow that lacked any notable catalyst. The recovery was perhaps aided

by the fact that the USD/CNY fix was not quite as high as most had estimated.

AUD/JPY's bounce from Y81.00 also helped.

- Support comes in at $0.7373 (Hourly support June 19), although the cross has

had a brief look below overnight, while resistance is seen at $0.7430 (Hourly

support June 18 now resistance).

- MNI's FX Technical Signal Monitor is displaying a clean sweep of bearish

signals for AUD/USD on an intraday and cloud basis.

- RBA Governor Lowe is due to speak in European hours after the minutes of the

Reserve Bank of Australia's June board meeting (released yesterday) appeared

broadly optimistic but strangely omitted the guidance that the next move in the

cash rate is more likely to be up, rather than down.