AUD/USD is back to nearly unchanged..........>

AUSSIE: AUD/USD is back to nearly unchanged levels, after it round tripped from

$0.7019, with price action largely driven by gyrations in the broader risk

sentiment. Developments in Sino-U.S. trade relations provided the key risk event

and AUD/USD gave away its earlier gains as ministerial-level trade talks between

U.S. & Chinese officials brought no breakthrough (with BBG sources noting

"little to no progress") and the U.S. went ahead with raising tariffs on China.

- AUD/USD last deals at $0.6986, a few pips worse off. The initial bearish

target is provided by the lower 1.0% 10-DMA envelope at $0.6940. Conversely,

bulls look to the 100-HMA & 200-HMA, which come in at $0.6997 & $0.7010

respectively.

- Australian focus next week turns to domestic NAB biz. conf. due Tuesday,

Westpac cons. conf. due Wednesday, labour mkt data due Thursday. RBA's Debelle

and Bullock will speak on Monday and Thursday respectively. Also worth noting

that on Saturday Australians will head to the polls to vote in the federal

elections.