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AUSSIE: AUD/USD has stuck to a narrow range in early Asia-Pacific dealing, last
- The risk averse theme on Tuesday & lack of hawkish utterances in the RBA's
statement that accompanied its MonPol decision pressured AUD/USD back under
$0.7200 to keep the recent downtrend intact. The close below $0.7200 brings the
September 11 YTD low ($0.7085) into play, ahead of the psychological $0.7000
level which is reported to hold option-related support. Bulls need to reclaim
the $0.7200 level and close above the 50-DMA ($0.7276) to improve their
- AU interest now turns to retail sales and trade data due later this week, as
well as an address from RBA's Heath, local building approvals data provides
limited interest later today.