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AUD/USD has slipped 4 pips and last trades...>

AUSSIE: AUD/USD has slipped 4 pips and last trades at $0.6986. A fall below the
lower 1.0% 10-DMA envelope at $0.6940 would give bears some downside momentum.
Conversely, bulls need to retake $0.7000 before attempting a move at the May 7
weekly high of $0.7048.
- The cross slid through yesterday's Asia-Pacific session after U.S. President
Trump's declaration that "China broke the deal" triggered fresh risk-off flows.
A session low of $0.6967 was then registered in the wake of weaker than exp.
Chinese credit growth data, which weighed on the yuan.
- The pair then fluctuated within an ~18 pip range for the bulk of the day,
before Trump's remark that he got a "beautiful letter" from his Chinese
counterpart Xi revived risk sentiment somewhat and AUD/USD finished the day
virtually unchanged.
- The RBA will release its Statement on Monetary Policy at 0230BST/1130AEST.
Elsewhere, Australian focus today will remain on Sino-U.S. trade matters, with
the Chinese delegation visiting Washington for trade talks & the key tariff
deadline approaching.

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