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AUD/USD has been restrained overnight,.......>

AUSSIE
AUSSIE: AUD/USD has been restrained overnight, sticking to a 20 pip range, last
10 pips higher at $0.7387.
- The comes after strength of the greenback and pressure via the AUD crosses
pushed AUD/USD back below $0.7400 on Thursday.
- 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, but
still need a close above the July 10 high ($0.7484) to confirm a break of the
55-DMA ($0.7470). While 0.7484 caps bears retain initial focus on retests of
2018 lows ($0.7311).
- Traders now look to next week's Jun/Q2 retail sales release followed by the
RBA decision on 07 August.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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