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AUD/USD closed lower on Monday, and last.....>

AUSSIE
AUSSIE: AUD/USD closed lower on Monday, and last deals unchanged at $0.7173,
just above its 50-DMA & broken down trendline resistance-turned-support from the
Feb highs at $0.7161/50.
- Risk off flows & broader USD strength weighed on the rate yesterday, although
the fact that the pair managed to close above the aforementioned support levels
keeps bulls focus on $0.7300, a level that has so far proved hard to overcome
and is growing in importance. Initial resistance is located at Monday's intraday
high of $0.7246.
- The latest AU NAB business confidence release has had little effect on the
AUD, with broader focus on tomorrow's AU wage data, and Thursday's labour market
report, as well as an address from RBA's Debelle, also due Thursday.
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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