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AUD/USD has edged higher on the back of......>

AUSSIE
AUSSIE: AUD/USD has edged higher on the back of expectations that China will
beef up stimulus to combat the economic fallout from the Covid-19 epidemic &
upbeat communique from the head of a Wuhan hospital. Over the weekend, Chinese
FinMin Liu took it to a flagship Communist Party magazine & pledged to enact
corporate tax cuts coupled with trimming unnecessary gov't expenses.
- The rate changes hands at $0.6728, 14 pips better off. Trendline resistance at
$0.6745 is in focus, a break would expose the Feb 5 high of $0.6774. On the
downside, a fall below the Feb 13 low of $0.6707 would encourage bears to target
the multi-year low of $0.6660, printed on Feb 10.
- The focus turns to Aussie skilled vacancies & wage price index (Wednesday),
labour market report (Thursday) & flash CBA PMIs (Friday). The minutes from the
RBA's most recent MonPol meeting come out on Tuesday.

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