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AUSSIE: AUD/USD held onto the coat tails of NZD/USD in the wake of the latest NZ
ANZ consumer confidence release, and last deals ~20 pips higher at $0.7270, back
from highs of $0.7283.
- AUD/USD had a brief look at long-term trendline resistance ($0.7287) but
failed to mount a serious challenge of the level. Bulls ultimately target a
break of the 50-DMA ($0.7296) to open up a leg higher. Bears look to $0.7250,
with the pair's failure to close below the level leaving bulls' hopes intact,
just. Failure to hold above $0.7250 and a subsequent reversal through $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.