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AUD/USD deals just a handful of pips shy.....>

AUSSIE
AUSSIE: AUD/USD deals just a handful of pips shy of the intraday high at
$0.7220, last $0.7216, after advancing 30 pips in the Asia-Pacific session. AUD
drew support from a drop in USD/CNH amid growing optimism re: the potential for
a high level U.S.-China trade summit later this month, while USD struggled on
the back of dovish Fed rhetoric & PResident Trump making threats re: the border
wall. 
- Worth mentioning the pair added about a dozen pips upon the release of a
strong AU retail sales print, but the initial effect quickly faded. 
- Bulls look for a breach of $0.7220, which capped gains overnight, before
targeting the 76.4% fibo retracement of the move from $0.7394 to $0.6741 at
$0.7240, followed by reported resistance at $0.7250. Conversely, initial
downside focus falls on the cloud base at C$0.7207 and a break below would bring
the 50-DMA/55-DMA at $0.7188/83 into view. 
- Aussie economic releases next week include Melbourne Institute inflation
figures due Monday, consumer confidence due Wednesday and home loans due
Thursday.

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