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AUD/USD fell afoul of the broader USD........>

AUSSIE: AUD/USD fell afoul of the broader USD strength on Monday, with
additional pressure applied as the greenback weighed on the base metal space.
- Bulls took comfort in the failure to make fresh 2018 lows and the bounce to
end last week that returned pressure to the $0.7442-84 resistance region. Bulls
now need a close above the July 10 high ($0.7484) to confirm a break of the
55-DMA ($0.7475) and hint at a move back to $0.7570-0.7735 where 100 ($0.7570) &
200 ($0.7671) DMAs are located with above $0.7552 confirming. The failure ahead
of $0.7442 leaves the pair looking a little offered with bears currently focused
on 2018 lows ($0.7311), with the Bollinger band base ($0.7327) providing the
initial level of support today.
- Participants await the AU CPI release, due tomorrow.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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