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AUD/USD has pivoted around $0.7250 during....>

AUSSIE
AUSSIE: AUD/USD has pivoted around $0.7250 during Asian trade with the latest
bout of USD strength, triggered by EUR/USD sales, pushing the cross to lows of
$0.7239, immediate support is located at the September 25 low ($0.7236).
- The rate had generated support from the AUD/NZD cross moving back above the
100-DMA (NZ$1.0900), but that has failed.
- AUD/USD remains locked in its downtrend, in spite of its brief move higher on
the back of yesterday's FOMC statement, with bulls still looking for a close
above the 50-DMA ($0.7296). Failure to hold above $0.7200 would bring the YTD
low ($0.7085) back into play.
- The AU docket is limited this week, so focus will likely fall on the broader
risk backdrop/USD theme ahead of next week's RBA MonPol decision, AU trade data
& retail sales. It is also worth noting that RBA's Heath will speak next week.
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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