AUD/USD has added 9 pips and last trades.....>

AUSSIE: AUD/USD has added 9 pips and last trades at $0.7101, in the wake of RBA

Gov Lowe's parliamentary testimony. Speaking after AU jobs & wage data releases

this week, Lowe said that Australian unemployment can reach 4.5% without

triggering a wage breakout. Lowe offered little to no fresh information on the

MonPol front. Thursday's session saw AUD/USD slump 73 pips. In early Asia-Pac

dealing, the rate jumped to intraday highs of $0.7207 on the back of a strong

labour mkt report, before it pulled back sharply, as Westpac revised its RBA

rate call to two cuts by the RBA in 2019 (Aug & Nov). The pair's gradual

recovery was then interrupted by a RTRS report stating that China's Dalian

customs has banned Australian coal imports indefinitely. AUD did not manage to

recover, even as it knee-jerk spiked higher on the back of comments from

Australian Treasurer Frydenberg, who denied that China has banned Aussie imports

and said that trade relations with Beijing will continue to be strong.

- Initial resistance is located at $0.7120, which represents the 200-HMA,

followed by the 50-DMA/55-DMA at $0.7132/39 into view. Conversely, bears eye

yesterday's low/cloud top at $0.7070/68, ahead of the cloud base at $0.7054.