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AUSSIE: AUD/USD has fallen on the back of the latest round of trade war
developments, last dealing 45 pips or so worse off at $0.7415.
- The remainder of the week provides little in the way of domestic risk events,
so focus is likely to remain on the global risk environment/any response to the
latest round of proposed U.S. tariffs from China.
- From a technical perspective AUD/USD's hesitation ahead of the 55-DMA
($0.7497) is a concern for bulls and has resulted in a dip back to the 21-DMA
($0.7413). Bears need a close below the 21-DMA to confirm an easing of bullish
pressure and to shift focus back to 2018 lows ($0.7311).