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AUD/USD has edged away from $0.7100 in.......>

AUSSIE: AUD/USD has edged away from $0.7100 in early dealing this week, after
the stronger than exp. U.S. labour market report helped the cross register a
fresh cycle low ($0.7099) on Friday, which was marginally extended on early this
week ($0.7097). The rate last deals at $0.7115.
- The rate's breach of channel base support amid a broadly stronger dollar keeps
the downtrend intact. AUD/USD continues to print lower lows, maintaining
outright bearish signals on an intraday and cloud basis. Focus turns to the
1.618% swing target ($0.7092), ahead of the key $0.7000 psychological level.
Bulls need a break back above $0.7305/10 to alter the short-term outlook.
- The AU labour market report and NAB business survey presents the major focal
points on the AU docket this week, with RBA's Bullock set to speak later today.
Bullock's speech is titled "the evolution of household sector risks," a key area
of focus for the RBA.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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