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AUD/USD eased off Thursday amid persistent...>

AUSSIE
AUSSIE: AUD/USD eased off Thursday amid persistent uncertainties. There was
little immediate reaction to a slowdown in the rate of expansion indicated by
the local flash CBA survey, but soft data may have limited the pair somewhat.
The slide accelerated in European and U.S. hours as British MPs clashed over the
appropriate moment to call a snap election, while U.S. Vice Pres Pence
criticised China's human rights record (although he also called for a greater
trade engagement with Beijing). The rate finished 34 pips lower.
- The pair last sits a touch lower at $0.6815. A retreat below the 38.2%
retracement of this month's range/round figure at $0.6802/00 would give bears
the green light for targeting the 50-DMA at $0.6787. Bullish sights remain on
$0.6883, this week's peak, and a break above would expose $0.6895, the high of
Sep 12. A break of $0.6895 would confirm a double bottom reversal formation.
- Australian focus next week turns to domestic CPI (Wednesday), building
approvals (Thursday), as well as AiG & CBA m'fing PMIs (Friday). On Tuesday, RBA
Governor Lowe will deliver a speech in Canberra.
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