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GOLD TECHS

Bullish Price Sequence

WTI TECHS

(M1) Needle Still Points North

BRENT TECHS

(N1) Price Structure Remains Bullish

USDCAD TECHS

Bearish Focus

AUDUSD TECHS

Corrective Pullback

EURJPY TECHS

Needle Still Points North

AUSSIE
AUSSIE: AUD/USD has stuck to a tight range in early Asia-Pacific dealing, with
focus set to fall on the RBA's decision later today. 
- All of those surveyed expect the Bank to leave the cash rate unchanged at
1.5%, so focus will quickly shift to the rhetoric employed in the accompanying
statement. The RBA should maintain its glass half full approach, with the
stronger than exp. Q2 GDP report & a tighter labour market providing some scope
for a slightly more upbeat assessment of the domestic situation, however,
external matters (at a minimum) continue to cloud the RBA's outlook.
- AUD/USD last deals at $0.7230. The pair failed to make a concerted challenge
of support at $0.7200 on Monday, sticking to familiar territory, as pressure on
base metals continues to cap any rallies. Any break below the aforementioned
$0.7200 level would bring the YTD low ($0.7085) back into play. Bulls need a
close above the 50-DMA at ($0.7286) to improve the short-term outlook and extend
the recovery.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com