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AUD/USD last $0.7142, 5 pips softer on the...>

AUSSIE
AUSSIE: AUD/USD last $0.7142, 5 pips softer on the day. This comes after the
cross added 35 pips or so on Monday, as the USD struggled against the majority
of its G10 counterparts.
- Bulls look for a clean break above the Dec 20 high of $0.7149, after the pair
registered a high of $0.7150 Monday, with any break above bringing the 55-DMA at
$0.7177 into view. On the downside, bears eye the 23.6% fibo retracement of the
move from $0.6741 to $0.7138, ahead of the NY Jan 4 low of $0.7027.
- Trade balance data headlines the docket today, with one eye on the U.S.-China
vice-ministerial trade meeting which should conclude Tuesday. Worth noting that
Chinese Vice-Premier Liu He unexpectedly attended the first day of the trade
talks (he is the top Chinese trade negotiator).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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