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AUD/USD came under pressure in early Asia....>

AUSSIE
MNI (London)
AUSSIE: AUD/USD came under pressure in early Asia on the back of the latest
round of trade war developments, dropped to $0.7407, extending the reaction from
a late NY high of $0.7473. Rate managed to recover to $0.7429 before it slipped
to $0.7405 ahead of the European open. Early Europe bounced rate to $0.7418,
dropped to $0.7404 before it recovered to $0.7420. 
- From a technical perspective AUD/USD's hesitation ahead of the 55-DMA
($0.7498) is a concern for bulls and has resulted in a dip back to the 21-DMA
($0.7413). Bears need a close below the 21-DMA to confirm an easing of bullish
pressure and to shift focus back to 2018 lows ($0.7311).
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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