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AUD/USD crept higher Wednesday as focus......>

AUSSIE
AUSSIE: AUD/USD crept higher Wednesday as focus turned to reports pointing to
positive results of Covid-19 vaccine trials by Moderna & AstraZeneca. The news
fuelled risk appetite, sending the rate to its best levels since Jun 10, even as
simmering Sino-U.S. tensions kept a lid on demand for AUD/USD. The pair ebbed
off intraday highs as China summoned U.S. ambassador to protest Washington's
measures vs. Hong Kong.
- AUD/USD last deals at $0.7010, little changed on the day. The initial bullish
target is provided by Jun 10 high of $0.7063 and a break here would confirm the
resumption of a broader uptrend. Conversely, a fall through Jul 7/14 lows of
$0.6922/21 is needed to expose Jun 30 low of $0.6833, a key support level. 
- The key point of note on the local docket today is domestic labour market
report. China's GDP & activity data will also provide interest.

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