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AUD/USD dropped ~20 pips after Westpac.......>

AUSSIE
AUSSIE: AUD/USD dropped ~20 pips after Westpac revised their RBA call to three
more 25 bp cuts in June, August and November 2019. Westpac also said that they
expect AUD/USD to fall to $0.6600 by the year end. The rate last deals at
$0.6887, 14 pips worse off.
- Bears continue to look for a dip below the $0.6866/65 region, which limited
losses twice this week. This would open the $0.6825-40 area which registered a
series of previous lows through Jan 2016. Bulls keep an eye on the downtrend
resistance, which kicks in at $0.6906 and has capped gains overnight. Above here
exposes the 21-DMA, situated at $0.6962
- Australian focus next week will turn to domestic building approvals & capex,
both due Thursday.

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