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AUD/USD has dropped in the wake of a.........>

AUSSIE
AUSSIE: AUD/USD has dropped in the wake of a surprisingly dovish RBNZ MonPol
decision. New Zealand's central bank trimmed its cash rate by 50bps to 1.0%,
even as consensus forecast called for a 25bps cut. NZD has tumbled on the back
of the decision, with AUD suffering from a spill-over across the Tasman Sea.
- AUD/USD sits at $0.6744, 16 pips lower on the day. After breaking under
Monday's cycle low of $0.6748, the rate is heading towards the YtD low of
$0.6741, touched during the Jan 3 flash crash. Below opens the lower Bollinger
band (2%) at $0.6713. Bulls look for a recovery through the aforementioned
Monday's low towards the trendline, which intersects at $0.6778.

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