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AUD/USD eased in the second half of the......>

AUSSIE
MNI (London)
AUSSIE: AUD/USD eased in the second half of the Asian session as risk aversion
crept into Asia-Pacific dealing, Chinese stocks traded heavy on the latest round
of trade war headlines out of the U.S. on Wednesday, as well additional property
market clampdowns being put put into place in China.
- AUD briefly blipped higher on the back of a much stronger than expected AU
trade print, but the move was limited and quickly unwound.
* AUD/USD currently trades around $0.7377, off its intraday low of $0.7373.
- Initial trend line support has been broken and the Jul27 low ($0.7370) is back
in focus. A break below here would trigger a further bearish signal, opening the
way for a decline to test the major trendline support ($0.7324). The first major
resistance point comes in the form of the July 31 high ($0.7441).
- Tomorrow brings the AU retail sales release, with focus on next week's RBA
MonPol decision & SOMP
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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