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AUD/USD has slipped 20 pips and last sits....>

AUSSIE
AUSSIE: AUD/USD has slipped 20 pips and last sits at $0.7128. Little reaction
was noted to the release of narrower than exp. AU trade surplus, as well as
touted positive signals coming from Sino-U.S. vice-ministerial trade talks. 
- The rate still hovers above yesterday's low of $0.7110 and a breach of that
level would open up the 23.6% fibo retracement of the move from $0.6741 to
$0.7145 at $0.7050. On the topside, initial focus falls on yesterday's high of
$0.7150, already touched today. A clean break above would allow bulls to target
the 55-DMA at $0.7176. 
- Immediate focus for the rate falls on the broader risk backdrop, ahead of
Friday's release of the latest AU retail sales data.

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